Unicredit and Intesa Sanpaolo have sold their respective shares in the London Stock Exchange, the London Stock Exchange, for a total of 370 million euros. The Piazza Cordusio institute sold 6,1% for 197,6 million, while the Turin bank 5,4% for 172,5 million. For the two banks, the capital gain deriving from the exit from the London Stock Exchange amounts to a total of 225 million euro.
Unicredit recorded, in particular, a positive contribution of 120 million euro and Intesa Sanpaolo of 105 million. Both banks have sold their entire stake held since 2007, or from the acquisition of the Italian Stock Exchange by the Anglo-Saxon group.
The sale was expected because the shares in the LSE were booked as Available for Sale (AFS). The deduction of the holding from RWAs (risk-weighted assets) alone has a positive impact for Intermonte analysts of 3 to 5 basis points at the Core Tier 1 level. The anticipated earnings impact for this year is approximately 5% for both.
Following the official announcement of the transaction, the Unicredit stock in Piazza Affari lost 3% in the mid-morning. Intesa Sanpaolo was also negative: -2,9%.
