After Carlo Pesenti's Italmobiliare, Vincent Bollorè also leaves the Mediobanca Pact early, which thus comes to an end.
In a letter to the president of the Pact, the Breton financier's group – which with its 7,9% is one of the first shareholders of the merchant bank of Piazzetta Cuccia – explains why, after twenty years of joining the Pact of syndicate, it has decided to regain full freedom of his actions. The reason is simple and is linked to the need for greater flexibility of one's financial assets after the commitment undertaken with the growth of the shareholding in the Vivendi group, which rose from 20,6 to 26,2%.
The exit of the Financiere du Perguet, which represents Bollorè, from the Mediobanca Pact will take effect from 2019 January 20 and will cause the Pact itself to lapse, which no longer represents even XNUMX% of the capital.
For now, Bollorè, who also has a strong presence in Telecom Italia and Generali in Italy, says that exiting the Agreement does not mean selling his stake in Mediobanca and confirms his support for both the strategy of the Piazzetta Cuccia institution and its management , led by Alberto Nagel.
But Bollorè's move after that of Pesenti, who took his Italmobiliare out of the Pact the other day, is the signal that the waters are moving and that Mediobanca's future will be increasingly contestable, above all in consideration of the fact that – in 2019 – the Pact which currently controls 25% of the capital – will lapse as its share is destined to fall below 20% with the exit of Bollorè. More decisive than ever will therefore be the role that Jean Pierre Mustier's Unicredit will want to play in Mediobanca who, with his 8%, is the first shareholder of Piazzetta Cuccia and has already made it clear that he wants to count more and more, starting from the next renewal of positions at the top of Generali.
