The board of Telco, the holding company that owns 22,4% of Telecom Italia, will devalue the shares of the telecommunications group. Barring surprises, the board of directors of the box should adjust the entry price from 1,5 to 1,2 euros, a value considered adequate, even if higher than the current prices of 0,62 euros.
The devaluation to 1,2 euros, writes MF, should have a negative impact for Telco estimated at around 900 million and would weigh cascadingly on the shareholders: around one hundred million on Mediobanca and Intesa Sanpaolo and around 250 million on Generali. Mediobanca analysts have highlighted how most of the stake in Telco is supporting Generali's life business reserves.
