Unicredit more and more protagonist in Piazza Affari. The bank's stock had already gained more than 2% yesterday after the possibility was leaked that is about to get rid of 20 billion in non-performing loans (non-performing loans), supported by state guarantees. Today, while investors optimistically await the plan new to Jean Pierre Mustier, already protagonist in July of the sales of 10% of Bank Pekao and Finecobank, the bank in Piazza Gae Aulenti continues its rally by gaining a further 2,4% at 2,282 euros per share at the end of the morning, outperforming the Milanese market than at midday it advances only half a point, under 17.000 points.
The purchases on Unicredit are supported by the prospect of a strengthening of the capital, which will make it possible in the coming months not only the capital increase but also new divestments by the French manager. This was anticipated by Repubblica, which today unveiled some details of the industrial plan that Mustier is preparing and which should be presented by the end of the year. According to the newspaper, it would therefore be expected a capital operation worth around 8 billion euro and in addition the sale, as indicated yesterday by Il Sole 24 Ore, of 20 billion non-performing loans. The latter operation, however, would involve losses that analysts estimate at around 2 billion euro, applying the conditions with which Banca Mps negotiated the sale of its NPLs. However, the red could be offset by the sale of Banca Pekao, which in fact, as the press claims, is in an advanced negotiation stage with the Polish Pzu. Repubblica today hypothesizes that Unicredit could sell Fineco Bank and Pioneer.
The latter, comment analysts and traders, is likely to be placed in Piazza Affari, an operation more probable than the creation of a pole with the subsidiary of Intesa Sanpaolo, Eurizon. In the end Unicredit could get about half a billion from the sale of half of the 8,5% held in Mediobanca. In short, Mustier would be working on an overall maneuver of around 16 billion euros between recapitalization and sales.
