Unicredit sent the government notification for thePublic exchange offer on Banco BPM Pursuant to the legislation on Golden Power. The opinion of Palazzo Chigi must be expressed by 45 days from the moment of presentation of the documentation (filing), But it could also slip by another 15 days, if the executive requires further documentation and clarifications. The pre-source had been presented on 13 December and the routine meetings were followed with the coordination group that deals with evaluating the applications of the Golden Power legislation.
Thus it is accomplished another formal act necessary for the finalization of the operation, in parallel to the green light of Consob and the ECB. The go -ahead of the government should therefore arrive between half and the end of March, just in time for The UniCredit assemblyconvened for the April 10which has on the agenda, among other things, the resolution of the capital increase at the service of the OPS.
What is the Golden Power
The Golden Power is a power reserved for the executive that allows you to block or fix stakes for acquisition operations of corporate participations. This power initially reserved for some strategic sectors and transnational acquisitions was significantly expanded during the pandemic, extending it to a series of key sectors. Since 2003, the legislation has also been applied to operations between Italian companies.
The step forward in Generali
OPS on Banco BPM, which also includes Anima, is Just one of many dossiers open by Unicredit in the last glimpse of the 2024 and early 2025. The other game is that of General. A “fresh” operation that dates back to a few days ago with which the Institute of Piazza Gae Aulenti found a participation of about the 4.1% in the capital of the Lion of Trieste by throwing himself into the game that sees opposed, for the determination of the new governance, the consortium of the entrepreneurs (Caltagirone and Delfin), who ask for a change of witness, and the historical partner Mediobanca, which focuses on continuity.
We already look at, in fact, to theGenerali Assembly of 8 Maycalled to renew the board. Two groups will compete for the majority: on the one hand Mediobanca which has 13.10%of the capital and on the other the Delfin groups (9.93%) and Caltagirone (6.92%) that act separate, but which together are worth more of 16%. Among the outsiders there is also the Benetton group with 4.8% and now Unicredit, which could become the scale needle in the game.
The Commerzbank dossier
The Commerzbank dossier It is the third open front by the AD Andrea Orcel, who aims to create a strong European bank, even if his aspirations have found a strong Resistance in Berlin.
Unicredit, he detected one 9% participation of the German bank, between the share for sale by the government and other purchases, and has come to hold a participation 21% overall through derivative toolshaving asked the ECB the authorization to rise to 29.9% of the capital.
The institution has never hidden the interest in the German bank, aimed at creating a large European bank, but given the resistance also political had preferred play at homethrowing himself in the Banco Bpm match.
