What is the fundamental point of this climb that is doing the Monte dei Paschi of Siena a Mediobanca? There are financial, political and editorial aspects.
The Sole24ore explained to us yesterday that the final goal are the generals. And it’s true: this is the synthesis of what is happening. We don’t take the bottom! Mediobanca with 13% check the generalsthe number one of the Generali is a French of Italian nationality who loves very much to play tennis with Adriano Panatta, who is called Philippe Kminitunscrupulous. A few months after its renewal, possible, as CEO of the Generali, Fa and announces an agreement of the Madonna with a French group, Natixis, for a joint venture in which De Paolini yesterday explained that there will not even be an Italian in the summit. The group will be 50% in the hands of Italy and 50% to France. But who do you think he will command a company where the whole summit is French, who thought this operation is a French with Italian citizenship? But who cares, is the market!
But the fundamental point of all this story is that Mediobanca Check the Generalwhich are a very important financial company. I am not directly interested in the heritage of the Italians, but we have been talking about an Italian giant, always, since the nineteenth century. If the Monte dei Paschi si pappa Mediobanca, Rocca Salimbeni and Mediobanca will also control the generals because, as the Sole24ore is very well seen both Mediobanca and General and Monte dei Paschi have two private shareholders who are called Caltagirone And DolphinLuxottica holding.
To make the synthesis, in Mps the two private individuals have 15%, in Mediobanca the two private individuals have 26%, in the generals the two private individuals have 17%. How much could last, and this is writing this today Claudio Cerasa on Sheeta capitalism that sent capitalists to that country? This was a question from which all this offer is born. Everyone says “the government is dealing with these events”. It is true, it’s absolutely true. I wrote it before the opa was born. The government wanted this operation to be done: The executive controls Mps and the Board of Directors, then the government has given the green light to the climb of Monte dei Paschi against Mediobanca and therefore of Generali. So the government has to do with it, because it wants to make a big bank, it takes the BPM counter inside, and hopes it will be “very Italian”.
Will you do this to do this? Here in the newspapers no one is unbalanced, because we try to be lucid: Mps is of the government and private individuals. Mediobanca is controlled by an 11% consultation agreement of the friends of the current management and everything else is on the market. So this means? That MPS will be able to buy Mediobanca and Generali Only if the market will convince that the whole overall operation is convenient. At the end of the fair, the government can certainly facilitate the operation, facilitated it, and the Roman entrepreneur Francesco Gaetano Caltagirone And Francesco Millerinumber one of Delfin, will be able to bring their contribution to this operation, but if the investment funds and widespread savers will be convinced by the current mediagement of Mediobanca that is not convenientthe operation will collapse.
Remember: in the modern finance system governments can, if they succeed, prevent something from happening, but facilitating that an operation is done is much more complicated. (…) At this moment, therefore, there is a kind of bank risk: remember that banks are newspapers, financing, businesses, banks are many things and banks do not fail as the Monte dei Paschi di Siena shows, because then It is the state that puts the money into it when the administrators do bullshit. We will see in the coming weeks what steps forward will take this great game of power. And it’s very interesting.
from the leek soup