Via libera della Bce al patto di consultazione tra le fondazioni azioniste di Intesa Sanpaolo https://t.co/2puXY1VNPD
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A €10 billion banking mega deal is on the verge of collapse, and it's all coming down to one move by shareholders. https://t.co/qzoujYYiNt
UniCredit and Banco BPM are engaged in a heated dispute over Banco BPM's increased bid for Anima, a major asset management company in Italy. Banco BPM raised its offer for Anima by €0.80 per share, from €6.2 to €7, contingent on shareholder approval at an assembly on February 28. UniCredit, which has its own €10 billion acquisition bid for Banco BPM, has expressed concerns about the financial implications of the increased offer, particularly if the Danish Compromise, a European regulatory framework that reduces capital requirements for banks with insurance holdings, is not approved by the European Central Bank (ECB). UniCredit's CEO, Andrea Orcel, warned that the higher bid and regulatory uncertainties could weaken Banco BPM's capital position, potentially leading UniCredit to withdraw its public exchange offer. Orcel estimated that Banco BPM's CET1 ratio could erode to 12.32% without the Danish Compromise. In response, Banco BPM's CEO, Giuseppe Castagna, dismissed UniCredit's concerns as "mere suppositions" and asserted that Banco BPM's CET1 ratio would remain above 13%, even without the Danish Compromise, and that the bank would maintain an 80% payout ratio. The escalating tensions highlight broader challenges in Italy's banking consolidation efforts, with regulatory delays and strategic misalignments complicating mergers and acquisitions.
