Mps flies to the Stock Exchange
Monte dei Paschi flies to Piazza Affari with a rise of over 3% on market expectations for the sale of Treasury share in the Sienese bank. To push the purchases, an interview with the CEO Louis Lovaglio published on Tuesday and rumors about the possible partner circulated on the eve. Lovaglio said the trial could begin “within the year”underlining that Mps could play a crucial role in the creation of the third polewithout however indicating preferences for the possible partner.
Government orientation
The rumors circulating on the market of preliminary surveys on the MPS issue between the Banco number, Joseph Chestnut, and the leaders of the Mef have not found confirmation. But the government’s orientation is also to encourage the creation of a third banking pole, which restricts the options on the table to only Banco Bpm and Bper Banca. Respectively third and fourth Italian institute behind a Intesa Sanpaolo e Unicredit. However, Bper is still grappling with the complete integration of Carige and former UBI branches. Only Banco Bpm would remain, which moreover has made it known on several occasions that it is not interested.
The role of Palenzona (Crt Foundation)
However, the will of the government is clear. And on the other hand, an operation with Mps would put the institution of meda square sheltered from the aims of Unicredit. Fabrizio Palenzonanew president of Crt. Foundation – shareholder of Banco Bpm – could play a kingmaker role in the merger process. Even if, it is emphasized, not in an operation that could be unwelcome to the number one of Unicredit, Andrea Orcel.
The leap into Piazza Affari
The shares of the Sienese bank score the best performance on the list with an increase of 3,24% a 2,138 euro, after closing yesterday’s session with a moderate increase of 0.24%. In the last six months, the stock has risen by almost 10% and after the release of the quarterly report (May 9) it has risen by almost 35%.