The shareholding reorganization of Mps also affects the Foundation. The institution chaired by Gabriello Mancini is ready to sell the first 6-8% of the bank to families close to Monte dei Paschi di Siena. This was reported by sources close to the dossier after the meeting of the deputation of this morning. The MPS Foundation has announced the sale of up to 15% of the bank, which would bring it below the psychological threshold of 50%. It is one of the solutions of the shareholding restructuring necessary to cover part of the debt, while the other would consist in re-negotiating the residual debt as at 2017.
Sources close to the Foundation speak of a sale that must take place "as soon as possible” and that it would be a “first move” followed, presumably, by the sale of a similar percentage to public or private funds. Possible favorites include Equinox and Clessidra, defined as "self-promoted", but also other institutional investors.
The institution chaired by Gabriello Mancini is still pending the go-ahead from the Ministry of the Economy for the sale of the stake. If an agreement with the creditor banks for the re-negotiation of the debt and the use of part of the pledged shares is not reached in the short term, one could think of an escrow account as an alternative.
