The settlement offer for the shareholders of Banca Popolare di Vicenza and Veneto Banca expires on Tuesday evening. The time left is now very short, but the top management of the two institutes do not despair of reaching the objective of 80% acceptance of the offer which provides for a cash payment against the waiver of legal action against the banks.
Only after the closing of the operation will the councils of the two banks controlled by the Atlante fund be able to calculate exactly how much money is needed for the capital increase, a matter on which negotiations are underway with the ECB.
For the two former popular companies, which are destined to merge, there is talk of a precautionary increase up to a total of 5 billion, of which 1,2 can be obtained from the conversion of subordinated bonds in the hands of institutions.
But the road is uphill: on the one hand some Atlante shareholders (see Intesa and Banco Bpm) ask that the fund concentrate on the Npj, on the other there are the words of the head of EU Supervision, Daniele Nouy, who, without mentioning the two institutes said that "consolidation could also take the form of closing banks if they become unsustainable".
