There is excitement about Monte dei Paschi di Siena securities. As it happened in the Unicredit-Commerzbank affair, could be the Investors who are covering their tracks in view of the placement of a new share by the Treasury, a shareholder with 26,7%.
In the last week, between last Wednesday and yesterday, the trading volumes on the Monte Paschi title they were unusually high: more than 137 million MPS shares have changed hands, almost 11% of the bank's capital for a value of over 720 million. The peak in trading, 48 million shares, occurred on Friday, the day of the presentation of the quarterly report. But all sessions saw purchases well above the average, which in the last three months has hovered around 13 million shares. In the trading rooms Barclays' name is mentioned as a more active trader on behalf of its clients.
Similar maneuvers to the Unicredit-Commerzbank operation
When Unicredit launched its operation on Commerz in September, a similar movement was seen, traders say. The investors' strategy is to take a position now by purchasing a package on the market and then rounding up the participation during the placement by the Ministry of Economy and Finance. After all, the Italian banks they have been on investors' radar for days: Jefferies yesterday revealed that it holds more than 5% of Banco Bpm and jp morgan 6,1% of Bper, both indirectly.
The sale of the new tranche is near
Solved the question Italy-Lufthansa and postponed the placement of shares Post, the government could soon reopen the MPS dossier, with the intention of selling before the end of the year a share of the bank, going down under the 20%. The Sienese institute has definitely changed since in the fall of 2022 a fully guaranteed capital increase had been decided to revive it. nine-month balance sheet The institute's performance was brilliant, with profits up 68% to nearly 1,6 billion. The Mps title, which is trading at 5,56 euros this morning, up 2,66%, has gained 102% in the last year. Hsbc initiated coverage with 'buy' and a target price of 7,2 euros.
The potential buyers are always the same. The first would be Bpm desk, which however is not only fresh Opa on Soul, but the ceo Joseph Chestnut has repeatedly said that the bank's plan is autonomous. Another could be Unipol, already a member of Bper and Popolare di Sondrio, although the number one Charles Cimbri has limited its interest in MPS to what is necessary to consolidate a possible collaboration in the policies. Finally, there remains the hypothesis of a hard core of Italian investors, useful for building a national presence on MPS and protecting it from possible incursions from abroad, against which the government would have difficulty building a wall after Unicredit's move on Commerz in Germany.
