He has been summoned for tomorrow 26 November 2013, at 9 in the morning, the Board of Directors of Banca Mps. The board is called upon to “discuss and resolve, among other things, on transactions involving the Bank's capital”. The call went out today.
Today the Mps stock travels behind the Ftse Mib, registering a drop of more than four percentage points at the beginning of the afternoon. The wave of sales was triggered by rumors according to which the 2,5 billion euro capital increase should be carried out at an issue price with a 40% discount on the Terp, a value which according to Equita analysts would imply a issue price of about 5 cents.
The experts explain that the Bank's Board of Directors, as reported by the newspapers, intends to speed up the recapitalization times and convene the extraordinary shareholders' meeting as soon as the European Commission has definitively approved the restructuring plan, with the aim of launching the operation in January.
Instead, the Foundation would prefer to sell a share of the Sienese institute's capital on the market, before proceeding with the capital increase. The EU decision on the MPS restructuring plan is expected shortly, at the latest by November 30, after Brussels confirmed on November 11 that it had received the plan from MPS.
