and the title flies to Piazza Affari (+9%) – Corriere.it

Banca Mps goes up to Piazza Affari in the first session of 2023 which opened well for the entire Milan price list. A movement also linked to a note from the institute which reassures us about “business continuity”. The shares soar with a 9% increase, conquering the 2 euro share. Thus the Sienese institute begins the year with a sprint triggered by managerial reasons, to which is added speculation on possible extraordinary operations. Moreover, according to the agreements made with Brussels, the Ministry of Economy and Finance, which holds 64% of the capital, will have to leave the bank’s shareholding structure by June 2024. According to rumors circulating in recent days, the ministry has already started talks with Banco Bpm, Unicredit and Unipol. However, it is possible that new operations will have to be launched, such as the sale of branches, to make the Sienese bank more attractive.

The note

In the communication, Banca Monte dei Paschi di Siena «reiterates that the positive conclusion of the capital increase operation for 2.5 billion euro, which took place on 4 November last, and the implementation of important actions envisaged in the 2022-2026 Business Plan, make believe that the significant doubts on the going concern that had been declared in the reports prior to the interim management report as at 30 September 2022 have been overcome, marking a positive turning point in the management of the Bank”.

Government reference

In the year-end conference, the premier, Giorgia Meloni, said that the government is working to create more banking centers in Italy and the privatization of Monte dei Paschi will contribute to the new physiognomy of the sector. “A capital increase has been made, there is a restructuring that seems to us to be quite solid, we are working to ensure an orderly exit of the State and to create the conditions for there to be more banking centers in Italy”, said the premier.

The scenarios

According to observers, the main suspect for a merger with Mps would be Banco Bpm, also by virtue of the close ties of both Mps and the Milanese institute with Anima sgr. From the pages of the Sole 24 Ore last week, however, the number one, Giuseppe Castagna, reiterated that Banco Bpm’s strategy is stand alone (i.e. going it alone) and therefore ruled out, again, an operation with the Sienese Institute.