National champions: what to do? Meloni’s new challenge, beyond Generali

Generali goes up, Delfin clarifies and the 6% leap with which the day began on the stock exchange is reduced. In the meantime, the market is preparing for another challenge for the Lion of Trieste, even if the potential protagonists keep their cards face down and hurry to cool the heroic fury. The fact is that IVASS, the institution that controls insurance companies, chaired by Luigi Federico Signorini general manager of the Bank of Italy, has authorized Delfin, the holding company of the Del Vecchio family led by Francesco Milleri, to rise above the 10% threshold up to 20%. The go-ahead came after the ceiling had been “accidentally” exceeded following the purchase of treasury shares. A technical event that paves the way for a political manoeuvre? Equita, the independent investment bank, believes that the IVASS authorization will once again increase the “speculative appeal” on Generali and indirectly on Mediobanca. Delphin, after that The Republic shot the news on the front page, he explained that this move does not hide any “particular strategy”. And yet “this is the time for politics” as Giorgia Meloni said yesterday at the Assolombarda assembly.