Unicredit VS Meloni Government on MPS. Salvini: “what is Bankitalia doing?”

Front attack of Matteo Salvini against UniCreditthe Italian bank led by CEO Andrea Orcel. Bone of contention: the future of MPS-Banca Monte dei Paschi di Siena.

The new dossier of possible marriages between UniCredit and Banco BPM it could not fail to be commented on by the Meloni government, working to trim MPS to an Italian bankboth for put a point to what has been the hot potato of all Italian governments which have followed one another in recent years, than to fulfill the wish expressed by the Prime Minister herself Giorgia Meloni: that of creating a third banking hub centered on the Sienese institute.

It made itself felt immediately the leader of the Leaguedeputy prime minister and minister of transport and infrastructure Matteo Salvini, who thundered against the intentions of the bank led by CEO Andrea Orcel:

“I wouldn’t want anyone to want to stop the deal between Banco BPM and Monte dei Paschi di Siena to do a favor for others“, said Salvini, making matters worse and also launching an appeal to Bank of Italy: “My question and that of many savers is: Is the Bank of Italy there? What does he do? Exists? What does he say? Are you watching? Since I am among the highest paid in Italy, as an Italian citizen I would like to know if everything is under control”.

Matteo Salvini presses on Banco BPM-MPS wedding. “UniCredit is a foreign bank”.

But why should Minister Salvini oppose it at a wedding between two Italian bankswhat are UniCredit and Banco BPM?

The reason was explained by himself leader of the Leaguewho denied the Italian nature of UniCredit, guilty in his opinion of wanting to grow up in Germanygiven the interest that Piazza Gae Aulenti showed in creating a pan-European bank in September, when it entered the capital of the second Teutonic bank Commerzbank.

“ I was left with the fact that Unicredit wanted to grow in Germany. I don’t know why he changed his mind”.

For Salvini, UniCredit would no longer even be an Italian bank. In his opinion they would instead be Italian Banco BPM e MPS.

Thus the deputy prime minister, speaking to journalists on the sidelines of the XXIV Edition of the Italia Direzione Nord exhibitionan event promoted by the Stelline Foundation, on the occasion of Milan Triennial:

“ Unicredit now has little or nothing Italian: it is a foreign bankI care about what reality is like BPM and MPS, who are collaborating with Italian entities which could create the third Italian hub, are not put in difficulty”.

Having said that, he added, “there is Bank of Italy, so we sleep soundly ”.

And again: “I never like concentrations and monopolies”, said the Northern League leader

UniCredit-Banco BPM: Orcel moves, the blitz on Piazza Meda with the announcement that shakes Piazza Affari

Piazza Affari woke up today in a state of prey to maximum excitement: after months and even years in which there has been incessant talk of the advent of one M&A operation (mergers and acquisitions, mergers and acquisitions) among Italian banks, the big announcement has finally arrivedwith a press release issued today, Monday 25 November 2024, signed by UniCredit.

The Meloni government however, it will have remained somewhat coldgiven that, in the plans of Prime Minister Giorgia Meloni herself, the coveted prey (as Treasury Minister Giancarlo Giorgetti had called it since the beginning of 2023) had been identified as MPS-Banca Monte dei Paschi di Sienaespecially after the latest act recently launched by the Italian government, which proceeded to abandon the institute to the market, as per agreements with the EU.

And instead, MPS has not yet been targeted by any Italian credit institution.

Not only that: until a few days ago there was a bet on the marriage between MPS and Banco BPMgiven that with that great announcement from the Meloni government it was learned that Banco BPM was the one shopping for as much as 5% of Monte dei Paschi – the bank led by CEO Giuseppe Castagna (which, given the takeover bid launched on Anima, could reach 9% of Monte if the operation is successful) – the prospect of a marriage between UniCredit and Banco BPM has once again relegated the Sienese institution to a corner.

In fact, if Banco BPM joins forces with those of Piazza Gae Aulenti, who will buy MPS?

Having said that, Minister Matteo Salvini should perhaps ask themselves another question that those who continue to launch the appeal to make sure to conserve an alleged all-Italian DNA of the so-called Italian banks.

To what extent can we talk about truly made in Italy credit institutions?

And given that we are so attentive to the Italian nature of the banks born in Italy, to what extent in this case, in addition to UniCredit, could it not be considered foreign? also Banco BPMgiven that is it controlled 9.18% by Crédit Agricole and more than 5% by BlackRock?

UniCredit-Banco BPM: the reaction of the stocks on Piazza Affari. On MPS Orcel confirms his no

Meanwhile in Piazza Affari Banco BPM moves to the top of the Ftse Mibwith an increase of over 3%.

Among the stocks of Italian banks hit by the sell-off, however, they stand out UniCredit and MPSwhich are confirmed as the worst on the list, at a time when banking sector shares are no longer shining.

UCG shares lose more than 4%, while Monte’s shares fall by more than 2%.

But the shares of other Italian banks also go down, such as Intesa SanPaolo e BPER.

UniCredit’s decision to launch a public exchange offer for all of Banco BPM’s shares was commented today by CEO of Piazza Gae Aulenti Andrea Orcel not only with the official statement with which the news was made known, but also during a conference call with analystsduring which the CEO also put his finger on the wound, stating that he had no ambition on Monte dei Paschi di Siena and recalling among other things that it was Banco BPM itself that commented on the entry into the capital of the Sienese institution: practically, “the stake acquired in MPS is for protect distribution agreements with Anima ”.

Orcel’s comment on Banco BPM takeover bid for Anima

Always referring to theTakeover bid launched by Banco BPM on Animathe number one of UCG stated that “if Banco Bpm is successful and we are successful, Anima will strengthen our asset management strategy”.

By the way, Orcel also informed that the public exchange offer launched on Banco BPM is subject, in addition to the authorization of the competent authorities, to the condition that Piazza Meda does not make changes to the terms and conditions of the tender offer launched on Anima, compared to what is indicated in the communication to the market of 6 November.

In the meantime, the OPS that UniCredit launched on Banco BPM was commented by Equita analystswho wrote that a possible marriage between Unicredit-Banco BPM “it would undoubtedly present a significant industrial value (possibility of strengthening the positioning in Northern Italy, scaling up product factories, space for the creation of synergies)”.

That said, SIM analysts also said that in their opinion “the prize is limited”.

How might the acquisition of Banco BPM by UniCredit alter the availability and cost of financial services for individuals and small businesses ⁣in Italy?

​This ⁢article discusses UniCredit’s proposed takeover of Banco BPM and the reactions of the market and analysts. ‌Here are some open-ended discussion questions divided ‍into thematic sections:

**I. UniCredit’s Takeover Bid for Banco BPM**

* What are the potential benefits ⁢and drawbacks of UniCredit ‍acquiring Banco ⁣BPM from⁢ both UniCredit’s and ‌Banco BPM’s perspectives?

* How might ⁤this merger impact the competitive landscape of the Italian banking sector?⁤ Would it lead ⁣to increased concentration or foster greater competition?

* Considering UniCredit’s ⁤statement about Anima,‍ how might this acquisition influence the wealth management sector in Italy?

* Do you think the “limited prize” mentioned⁤ by analysts​ accurately reflects the ‍deal’s‍ long-term value‍ or is it a short-sighted assessment?

**II. Market Reaction & Investor Sentiment**

* Why do you ⁢thinkBanco BPM’s share price increased while UniCredit and MPS’s share prices fell ⁢upon the ⁢announcement?

* What implications does the market reaction have for the success of UniCredit’s bid?

* What broader factors beyond this specific deal might be contributing to the declining performance of bank stocks in general?

* How might theECB’s interest rate policies be influencing investor‍ sentiment towards Italian banks?

**III. ⁣Banco BPM’s Stake in MPS and ⁢Anima**

* ⁣Why did Banco BPM acquire a stake in MPS, and how does UniCredit’s statement⁤ about “protecting distribution agreements with‌ Anima” shed light⁣ on this investment?

* What​ are⁢ the strategic implications of Banco BPM’s takeover bid for Anima? How might this acquisition affect the Italian asset management ​industry?

**IV. Orcel’s Leadership &⁢ Future‍ Plans**

* How has Andrea ‍Orcel’s leadership‍ influenced UniCredit’s strategic decisions, both in this case and in‌ general?

* What are the​ likely future directions for UniCredit ​after this potential⁤ acquisition? What other ⁤strategic moves might Orcel pursue?

* ‌Considering the potentially significant​ changes in the Italian banking landscape, how do you think this merger will shape the future of Italian banking customers?

By engaging in thoughtful discussion around these questions, we ⁢can gain a⁣ deeper understanding of the complexities ‍surrounding UniCredit’s proposed takeover of Banco BPM and its potential implications for the Italian banking sector and the wider economy.