Leonardo Del Vecchio does not give up and further increases his shareholding in Mediobanca. Taking advantage of the shares put on the market by Unicredit – but not buying them directly from the bank led by Jean-Pierre Mustier – the entrepreneur from Veneto, with his Delfin, has invested again in the Piazzetta Cuccia institution, rising from 7,5%, which already held, at 10%.
He will not be able to go further for now, unless he requests it from the ECB. But, at present, there are no questions from him in this regard. However, it is not excluded that Del Vecchio decides to ask for authorization from Eurotower to further strengthen his shareholding in Mediobanca, with the aim of rising to around 20% and determining - if he will find allies - the strategy and governance of the Milanese investment bank.
Beyond the diplomatic courtesies, it is no mystery that between Del Vecchio and the CEO of Mediobanca, Alberto Nagel, who however has a large part of Italian and international funds on his side, there is bad blood. Rusts – ranging from Ieo to Generali – are ancient and it is possible that the owner of Luxottica wants to settle them once and for all, with the aim of directing both the future of Mediobanca and above all that of Generali.
In the insurance company led by Philip Donnet, Del Vecchio plans to consolidate the nucleus of Italian shareholders and to launch, after many years, a capital increase that will strengthen the assets of the Lion of Trieste and put it in the conditions, if there are opportunities right, to negotiate as a protagonist an international alliance that will give birth to a European champion of insurance and asset management. Sparks therefore await both Mediobanca and Generali.
