Monte dei Paschi di Siena Bank is rising this morning on the stock market on rumours that the government is preparing to sell its stake to a consortium of entrepreneurs, led by the president of Finint Bank and the management company of the Venice airport, Enrico Marchi, and to a business partner. They would purchase a significant minority stake, between 7,5% and 11,5% of the institute's capital, but without having governance rights. Just yesterday the Finint group, at the same time as presenting the data, declared that it was ready to M&A operations.
With this operation the Treasury could collect 500-750 million allowing him to confirm the privatization path and respect the commitments made with the EU, while at the same time reassuring those in the majority, and in particular in the League, who would prefer to continue to have a say in the management of MPS.
The title on the Ftse Mib of Business Square is up 1,93% in the late morning at 5,28 euros after having marked a peak at the opening at 5,41 euros. Operationally, expectations are for a continuation of the day in a positive direction with resistance seen at 5,343 and then at 5,445. Support at 5,241.
Who is contacting Marchi?
Among the first subjects contacted by Marchi there would be the Enpam, in addition to the number one of MSC Gianluigi Aponte. The project would then see the entry of a business partner without governance ambitions, an identikit in which it is easy to recognize Unipol, whose president Carlo Cimbri had already said he was interested in a bancassurance partnership in which he could acquire a share of less than 10% of the capital. “The crux of the operation – the newspaper recalls – concerns the agreement that Siena has in place with Axa on insurance: the agreement is valid until 2027, but the lawyers are already studying how to dissolve the pact if necessary”.
The idea would be to replicate a scheme similar to that of F2i-Rete Digitale, the vehicle that raised 1 billion euros to invest in Netco, the spin-off of the Tim network, alongside Kkr and Mef.