Auctioning everything that can be sold to reduce capital needs and facilitate private recapitalization and bailouts: this is the mandate that Veneto Banca and Banca Popolare di Vicenza have entrusted to the Rothschild investment bank, which has already put to work.
Among the assets for sale there is above all the joint stake held by the two Veneto banks in Arca sgr, pearl of managed savings, but also the stake in Bim (the intermobiliare bank listed on the Stock Exchange and held by the bank of Montebelluna), those in the banks southern branches (Banca Apulia and Banca Nuova) and foreign branches.
Veneto Banca, after incorporating the bank it had opened in Romania, still has branches in Moldavia, Croatia and Albania which Rothschild has been given the mandate to sell as soon as possible together with the other equity investments.
The purpose of the initiative by Popolare di Vicenza and Veneto Banca is clear and is to do everything possible to reduce the capital increase borne by private individuals so that the entry of the Treasury for a recapitalization as urgent as crucial to save the two institutes in the North East.
However, the definitive and possibly rapid response to the Treasury's pressure on the main Italian banks to participate in the collection necessary to raise the capital to close the operation will be essential. After the initial availability expressed by Intesa Sanpaolo, Unicredit, Banca Mediolanum, Unipol and Poste Italiane, time is running out: either the start of the recapitalization will be resolved within the month of June or there will be pain.
