Now there is the official confirmation: it was there Dolphin by Leonardo Del Vecchio, who became the richest man in Italy, to buy 2% of Mediobanca sold by Berlusconi's Fininvest to Unicredit, who acted as an intermediary. With the new purchase of Del Vecchio thus rises to 15,4% of the capital of Mediobanca, of which it is more than ever the first partner and from which he would like a net route change, with the eye both a Unicredit that to Generali, although so far he has only acted as a financial investor.
But Del Vecchio's new move confirms two things: that the owner of Luxottica aims to reach 19,9% of Mediobanca and will do it as soon as possible and secondly, that by now the Unicredit-Mediobanca-Generali axis is on the move and is increasingly in the spotlight of the Stock Exchange, which is waiting to see if over time that really will be created large Italian financial centre dreamed of by Del Vecchio.
Conversely, the purchases of Delfin and the consolidation of Del Vecchio in the capital of the Piazzetta Cuccia institute made even more contestable Mediobanca, whose consultation agreement between the historical shareholders, after the sale by Fininvest of 2%, now collects only 10,5% against 15,4% of Del Vecchio himself.
The history of Mediobanca, the new dynamism of Unicredit and the future of Generali are not the only drivers of Piazza Affari, even if at the moment they are among the most intriguing and attract the lights of the Stock Exchange, where the banks have once again played a leading role both for the consolidation maneuvers in progress and for the rich dividends which, compatibly with the provisions of the Authorities, they are preparing to distribute.
If to all this we add the scent of recovery that Italy is beginning to breathe after the hell of the pandemic, we understand how Piazza Affari has become attractive again, also because the comparison between the P/E of the various European and American stock markets shows that the Milan stock exchange is still today among the least expensive stock exchanges available to investors and savers.
