Weak session and never a precise direction for Piazza Affari. Telecom Italia TIM up among the most capitalized stocks: the group board examined the two offers for NetCo
The major indices of Borsa Italiana and the main European financial centres closed the session in negative territory. Il FTSEMib it fell by 0.64% to 27,576 points, after fluctuating between a low of 27,574 points and a high of 27,822 points. The FTSE Italia All Share it lost 0.64%. Performance along the same lines for the FTSE Italia Mid Cap (-0.62%) and for the FTSE Italia Star (-0.89%). In the session of 20 June 2023, the value of trades rose to 1.88 billion euros, compared to 1.76 billion on Monday.
Shop on Telecom Italia TIM (+0.57%). Yesterday the board of directors of the group met to examine, in the context of the competitive process relating to the enhancement of the NetCo dossierthe two non-binding offers presented, respectively, by the consortium formed by Cdp Equity e Macquarie Infrastructure and Real Assets, e da Kkr (Kohlberg Kravis Roberts). The company has announced that it will complete the examination of the offers in the meeting scheduled for June 22, 2023 and that therefore “no decision has been made”. In these hours, Sole24Ore has reported the indiscretion according to which the board is inclined to exclusive rights for Kkr. The offer of the latter (21 billion which could rise to 23 with the fulfillment of certain clauses) would be higher than that of Cdp-Macquarie (19.3 billion euro), would have no potential Antitrust risks and could bring together other subjects. Among other banks up 1.45% BPER Bank and down 0.62% BancoBPM.
Sales on Stellar (-2.29%). The automotive group and Hon Hai Technology Group, of Foxconn, announced the creation of SiliconAutoa 50/50 joint venture that, starting in 2026, will design and sell a family of cutting-edge semiconductors for automotive players, including Stellantis.
Banks are in mixed territory, bucking the trend yesterday on a negative day. Intesa Sanpaolo lost 0.33% while Unicredit it rose by 1.04%. Gae Aulenti communicated that he has defined the implementing procedures for the execution of the second tranche of the 2022 buy-back programme. The second tranche envisages a maximum amount of 1 billion euro, for a number of UniCredit shares not exceeding 230 million, taking into account the shares already purchased during the first tranche. UniCredit has already received ECB authorization for the buyback of treasury shares for a maximum of €3.24 million and has decided to proceed with the execution in two tranches. It is UniCredit’s intention launch the second tranche of the 2022 buy-back program immediately after the closure of the first tranche of the programme, scheduled for the end of June 2023. The buybacks of the second tranche are expected to end in September 2023.
Among stocks outside the FTSEMib unchanged Tuscany Airports. Its board of directors proposes the detachment of an extraordinary dividend for a total amount of 7 million euros. Assuming the absence of treasury shares, the amount per share is equal to 0.3761 euro each. The coupon detachment is scheduled for July 24, 2023, with payment starting on July 26, 2023.