Sunny day on the Stock Exchange for the title Unicredit, which at the end of the morning gained 0,9%, to 2,11 euros, in contrast with the Ftse Mib (-0,4%), where the most affected securities are precisely the bank ones.
The sales were triggered by press reports that Amundi offered about 4 billion euros for Pioneer. Even the other expressions of interest, writes Il Messaggero, would be clearly above 3 billion. In particular, the consortium Poste, Anima and Cdp would have offered 3,4 billion and could now seek an ally to compete with the French.
The press hypotheses on Amundi's offer, if confirmed, would have a positive impact on UniCredit, writes ICBPI. The valorisation would be equal to more than 20 times the average profits and approximately 1,8% of the assets under management. Values that could be reasonable in the event that the buyer negotiates favorable commercial agreements with UniCredit for an extended period, concludes the report.
According to another broker, the sale of Pioneer for 4 billion would have a positive impact of 80/90 basis points on Unicredit's CET1 against the 50/60 points expected with a sale of around 3 billion.
