Unicredit a new one arrives positive evaluation. After last week Moody's had confirmed the rating of the institute in Piazza Gae Aulenti, it is now Fitch to express their opinion on the credit institution and its new proposal oops on Banco Bpm, while the markets are waiting for the filing of the prospectus at Consob, by the end of the next week. On the stock exchange, Unicredit shares are rising sharply, taking with them the entire banking sector who bets on the success of the operation.
Fitch confirmed UniCredit's Long-Term Issuer Default Rating and Senior Preferred rating at 'BBB+' with a positive outlook and all other UniCredit ratings have also been affirmed. The rating therefore remains a step at the above the Italian sovereign rating. The rating agency also expects that a potential transaction with Banco Bpm will not change the group's credit profile to an extent that would impact its ratings.
La MY BAG is betting that the operation will succeed. Unicredit earns 2,81% today while Bpm bank limits the advantage to 1,5%.
The prospectus is expected by the end of next week
Pending, by the end of next week, the Informative prospect with which the bank in Piazza Gae Aulenti will explain to Consob in detail the takeover bid on Bpm, Andrea Orcel and his staff are holding the contacts with all the main shareholders of the Bank, starting with the Crédit Agricole. The crucial aspect is represented by the price, considered too low by Giuseppe Castagna at the helm of the Bank and which could maybe be retouched by Orcel who sees in this operation the possibility of strengthen itself in the managed savings sector.
The other actor in the story is the government, who has reserved the right to examine the initiative in question according to the rules of the golden power. On the issue is the prime minister intervened Giorgia Meloni, stating that "it is a market operation".
Almost the entire banking sector is betting on a successful takeover bid
The banking sector is once again benefiting from the appeal linked to the possible consolidation and purchases are also raining down on other banks. Among the best on the market today are also some small popular banks, more attractive for possible aggregations, such as Popular of Sondrio (+ 4,59%) and Bper (+2,19%). The euphoria of purchases also rewards the major institutions, such as Intesa Sanpaolo which increases by 1,73%.
Travel in red instead Montepaschi, which filed 0,06%, after having done better previously (+140% performance since the beginning of the year). Prime Minister Meloni also mentioned the MPS issue, of which Banco Bpm has become a shareholder with a 5% stake: "We have discussed for years that MPS was draining citizens' money because we had to save Monte dei Paschi di Siena - Meloni underlines - now the bank has been restored to health, with a further 15% sold no later than a few weeks ago and, clearly, it falls within this strategy, within this game".
