Green light from the ECB to Delfin. Leonardo Del Vecchio will be able to rise from the current 9,9% to 20% of Mediobanca's capital. The news puts wings to the title of Piazzetta Cuccia which, just a few minutes after the close of the Stock Exchange session, gained 3,45% to 7,486 euros, realizing the second best performance of the day (after Tim which rose by 4,5%).
The ok came following the formula of silent assent. As no objection has been received from the European Central Bank, at 12 today, 26 August, the authorization procedure which will allow the Delfin holding to double its stake in Mediobanca's capital is considered concluded. Frankfurt's silent ok arrives at the expiry of the 60 working day deadline from the request forwarded at the end of May by Del Vecchio's finance company to the Single European Supervisory Authority through Bank of Italy.
In order to reassure the regulator, Del Vecchio allegedly asked for authorization to grow as a “financial investor”, therefore excluding the desire to present a list for the renewal of the board of directors in the context of the next meeting scheduled for 28 October and the desire to intervene on management.
As expected, in the short term Del Vecchio could carry out a first operation to bring himself to around 13-14% of the capital of Mediobanca. A move with which it would exceed the shares in the hands of the consultation pact, which controls 12,6% of the capital. At 6,7% there is instead Vincent Bolloré, who is not part of the pact.
