Very positive start for Fondiaria-Sai on the Stock Exchange after the ok to the exchanges proposed by Unipol for the merger. The share of the insurance company gained 3,41% in mid-morning to 1,032 euros, while the parent company Premafin, the financial holding company of the Ligresti family, was also up 2,91% to 0,219 euros.
The opening of Milano Assicurazioni, a subsidiary of Fonsai, was also positive, with a +4,8% at 0,2815 euro. On the other hand, the share of the Bologna-based company Unipol is bad, with a -1,78% at 18,23 euros.
Meanwhile, the di Milano Assicurazioni also gave the green light to Unipol's proposal for the merger within the framework of the merger with the parent company Fonsai. This was communicated by the same company which decided "to communicate to Unipol its willingness to proceed with negotiations for the definition of the integration operation on the basis of the proposal of Unipol itself dated 6 June 2012 and, precisely, on the basis of a minimum shareholding of the ordinary minority shareholders of Milano Assicurazioni equal to 10,7% of the ordinary share capital".
The decision, concludes the company, "is based on the essential premise that the way in which the emerging uncertainties concerning the exemption from the takeover bid obligation will be overcome will be defined in the shortest possible time". The board therefore mandated the chief executive officer to "verify with Premafin, Fonsai and Unipol how to proceed".
