Mps still on the shields in Piazza Affari (+4%), after the Foundation has denied press hypotheses on a sale of a substantial share to other investors and foundations. The purchases had already started on the stock at the start of the session on the hypotheses of an agreement for the purchase of a share of the order of 20%, held by the Sienese institution in the bank, by a consortium of foundations and funds, which would then subscribe the capital increase.
In a note published in the morning, the Foundation categorically denied "any hypothesis of transfer" of 20% shares in the Bank to other foundations and subjects that appeared in the press, as well as that "a meeting of the Administrative Deputation is scheduled to evaluate any proposal".
The Body underlined that even today's meeting of the Deputation General "does not see this topic on the agenda", specifying that "it will implement all appropriate actions in order to protect its interests".
The high-voltage Sienese Christmas began after the announcement of the imminent capital increase by the Board of Directors. The Profumo-Viola couple has decided, under penalty of resignation, to start the increase as early as January, a date already agreed with the underwriting consortium. The Foundation opposes it to avoid the sell-off of its 33% stake. Thus began the countdown in view of the meeting of 27 December on which the start of the capital increase of Monte Paschi di Siena will depend.
The search is underway for an agreement that will make it possible to respect the EU deadlines, which establish the recapitalization by the end of 2014, but also to guarantee a future for the Fondazione nel Monte, all under the watchful eye of the Ministry of Economy, guarantor at the Commission European.
The solution, according to press hypotheses circulated, could pass through the intervention of a sovereign wealth fund, probably al Aabar of Abu Dhabi, which already controls a share of Unicredit and belongs to the reigning family, like the airline Eitihad; and by the intervention of three large Foundations (Cariplo, Cariverona and Compagnia di San Paolo) through an exchange of shares between MPS and Intesa and Unicredit securities.
In the meantime, the stock also has other reasons to celebrate: the agreement with Deutsche Bank for the early closure of the Santorini derivative contract and the green light, on Friday night, for the agreement on the transfer of administrative and back office activities to the Bassilischi group.
