After the -41% of the last month, November begins with a swinging morning for Mps. After a start of trading in slightly positive territory (+0,8%), the Sienese Bank's stock was suspended several times in a volatility auction: first with a drop of 2,7%, to 0,5915 euro, then with an increase of 6,58%, to 0,648 euro. Subsequently, the increase exceeds eight percentage points, while the Ftse Mib travels in the red by 1,34%.
The extreme volatility comes after the announcement of a capital increase to fill the shortfall identified by the ECB and the EBA during the stress tests, amounting to 2,1 billion euros. Therefore a market operation, such as hoped the Minister of Economy and Finance, Pier Carlo Padoan.
Press rumors speak of a guarantee consortium currently being set up, in which the two advisors would participate Citigroup e ubs, as well as a patrol of banks already included in the consortium that had led the five billion euro capital increase last July.
Current members include Fintech Advisory (4,5%), Btg Pactual (2%) and MPS Foundation (2,5%), which hold a total of 9% of the share capital of MPS, a stake entirely syndicated in a Pact aimed at appointing the Chairman and CEO of the bank during the renewal of the Board of Directors (April 2015).
Meanwhile, the French insurance company Axa – who in addition to being a shareholder of Monte dei Paschi with a 3,7% stake is also a partner in Life and Non-Life insurance – announced that, after joining the first increase, he will also take part in the second recapitalization so as not to dilute the own stake in Banca Italiana.
Meanwhile, small shareholders of Mps reiterate the request to the institute to have all employees participate in the new capital increase: "Azione Mps, an association adhering to Conapa - reads a note - has repeatedly urged the Management of Banca Monte dei Paschi di Siena to offer all employees the opportunity to participate in the recapitalization of the Bank through voluntary share plans reserved for them”.
Il Cda of Mps is on the agenda for Wednesday.
