General Bank e Unicredit are negotiating for the sale of the controlling share of FinecoBank at the Trieste institute. The gap to be bridged remains that of the price of the operation, which could value the multi-channel bank controlled by Unicredit by more than 3 billion euros. Sources close to the dossier were collected by Reuters even if the official channels did not want to comment on the rumors.
The main issue to be resolved, in this sense, is that of the large amount of Unicredit issues in the subsidiary's portfolio, which represent approximately 80% of the total assets of the institution which, in the event of a sale, would cease to benefit from the favorable accounting treatment due to holding the debt of its parent company.
The interest of Generali, which is working on the operation with Goldman Sachs, would have emerged after the placement of 10% of FinecoBank by Unicredit (which holds 55,4% of the bank), decided by the new CEO Mustier in the month of July. Another node is the one on the modalities of the operation: Unicredit would like only cash, while Generali is aiming for a card-to-card offer.
