I am proud to have opposed the sell-off of MPS, despite years of failed management of the Democratic Party. Today we are reaping the fruits of strategic choices that will make Italian families earn after the money invested thanks to the latest capital increase – said the deputy prime minister and transport minister, Matteo Salvini, in the morning -. We celebrate a success where all others had failed. Now full steam ahead with MPS as the protagonist to consolidate the Italian banking system in favor of small and medium-sized enterprises, Salvini added.
On Monday evening the Italian government with a blitz placed 25 percent of the capital of Monte dei Paschi di Siena on the market, of which it had 64 percent in its portfolio. An expected and partly announced move, which surprised due to the size of the stake placed. Many expected 15 percent to be sold, which would still have brought the government below the 50 percent mark. 20 percent was instead announced, a figure subsequently raised to 25 percent given that the first book was covered in record time and demand remained lively. With 25 percent on the market, the government now only has 39.23 percent of the Rocca Salimbeni bank in its portfolio, but with 920 million more in cash, given that the securities were sold for almost 3 euros.
At the opening of the session, the shares of Banca Monte dei Paschi di Siena lost 5.01% to 2.918 euros per share, a price identical to that charged by the Mef for the placement of 25% of the share capital. The consideration – announced the Mef – incorporates a discount equal to 4.9% compared to the closing price of the bank’s shares recorded on 20 November 2023 and almost 50% higher than the subscription price of the increase in the bank’s share capital carried out in November 2022 .
Despite this historic step, banking risk is heating up on the Milan Stock Exchange. Banco Bpm loses 2.25% with Deutsche Bank cutting its rating Hold and indicates a target price of 6.1 euros (currently 5.2 euros). Unicredit loses 1.7% and Bper 1.4%. Against the current Mediolanum (+0.46%). At the top of the list Nexi gained 0.72%, A2a 0.57%. The spread between BTPs and Bunds, after starting below 170, is stable at 172 points, as is the yield on the Italian 10-year bond at 4.29%.
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