Il In fact, the Council of State yesterday provided its opinion on the matter, as expressly requested by the Ministry of the Treasury, recommending a legislative intervention to avert the possibility of a dispute with the Banking Foundations, which would be harmful in itself, as well as with an uncertain outcome.
For the Council of State, the regulatory intervention should recognize the banking institutions, the right to an adjustment equal to "a share - corresponding to the fraction held of the share capital (in this case the share is 30%) - of the capital increases", occurred since the entry of the Foundations into the CDP, which from 2003 to the end of 2011 amounted to 3,6 billion euros.
The law should also contain "the determination of the exchange and liquidation value which takes into account the criteria expressed above, aimed at limiting the worthiness of the participation of the foundations in the capital increases, achieved after their entry". There the suggested path, therefore, having recognized the reasons of both parties, is that of compromise. The solution is expected by the end of the year, even if, given the technical times, it could be postponed until the beginning of 2013.
