The rating agency Dbrs has put the 'BBB/R-2(mid)' ratings of the Monte dei Paschi bank under observation. This can be read in a note from the Sienese institute.
Mps returns to trading on the Stock Exchange after touching -4% and loses 2,40% settling at 0,23 euro per share.
The volatility of the stock would be caused by the rumors that the Foundation would see the shareholder with a stake of 33,5% grappling with the decision to sell shares on the market to repay its debts, now equal to around 350 million euros.
In recent days, the Sienese institution had mandated Lazard to evaluate the possible solutions, which at the moment would be two: find a buyer for the entire stake (and in this case the Foundation will try to ask the new shareholder for a premium for the 33,5 .XNUMX% which gives the possibility of blocking strategic choices) or sell shares on the Stock Exchange.
Investors seem to be betting on this second hypothesis. Thanks to the declarations of the mayor of Siena, Bruno Valentini, who hoped that the Foundation would maintain a stake in MPS and therefore at least one seat on the bank's board. Mediobanca analysts this morning advised caution, identifying a target price of 0,19 euros. Mediobanca also explained that the volatility of MPS shares depends on the uncertainty of the implementation of the restructuring plan, as well as on the trend of the public debt (MPS owns over 20 billion of government bonds).
