"The shareholders will not reach 51% and therefore Atlante will acquire control of Veneto Banca" after the capital increase. This was stated by Carlo Messina, CEO of Intesa Sanpaolo, one of the promoters of the consortium guaranteeing the capital increase of Veneto Banca, which then signed a sub-underwriting agreement with Atlante conditional on reaching 50,1%.
“I think this is absolutely the final outcome of this operation – added the banker on the sidelines of an event in the province of Vicenza -. I am sure of this because the size of the capital is such that it is unthinkable that the current shareholders can reach 51% of the capital".
Previously the large shareholders of the group, gathered in the "Per Veneto Banca" association which holds about 8% of the bank's capital, had said that their goal is obtain the majority of the shares, after having said yes to the capital increase.
As for the possibility that at the end of the operation there will be a free float, “it seems difficult to me, but I don't feel like excluding it – Messina said again -. I'm not able to say, we'll have to see the end of the operation”.
Messina then underlined that "at the moment the Bank's conditions are such that a restructuring will be carried out first and then it will be possible to evaluate the strategic options that will not concern Intesa Sanpaolo".
