“What we strongly stigmatize is the dripping of legislation and regulations (which we hope are the same for everyone), which reserve continuous surprises and which deserve to be more timely, clear, coordinated and with reasonable execution times”. This is the tough stance taken by the shareholders of Veneto Bank against the ECB which blocked the sale of Banca Intermobiliare.
The ECB intervened in the operation by denying consent to the completion of the sale of Bim by Veneto Banca. The operation involved the purchase of 51,4% of Bim by a consortium of investors led by Pietro D'Anguì also made up of Carlo De Benedetti, the Segre family and Luca Cordero di Montezemolo.
The stop by Frankfurt comes due to the hypothesis of non-compliance by the consortium, or rather by some of its members, with the requirements of good repute required by the directive on the supervision of European credit institutions.
To the ECB's denial, theshareholders association of Veneto Banca: "With an apparently exasperating calmness" the ECB communicated its denial of authorization to the investors purchasing the majority of Bim. Therefore, barring last-minute second thoughts, Veneto Banca will have to find a new buyer”.
The bank's shareholders especially complain about the lack of clarity of the Babel of the controls to which the banks supervised by the ECB are subject: "We have invested our savings in the assets of Veneto Banca, with the tranquility of those who intended to have put them in a piggy bank, from which draw on when needed. The Babel of supervisory controls and interpretations disorients and worries us, because they are undermining the historical relationship of trust of the Bank with shareholders, customers and the territory”.
