Intesa after Mps, in the shareholders' book Delfin will be close to 4%. Compagnia San Paolo still leader at 5.2%
If the takeover bid goes through, the reorganisation of Intesa's shareholding structure, Caltagirone would have 2.9%, Blackrock 5%, Cariplo 4.3%, and the Mef 1%
by Paolo Paronetto and Andrea Fontana
In addition to revolutionising the balance of Italian finance, Intesa Sanpaolo's Opas on Mps, if successful, will also lead to a reorganisation of Intesa's shareholding structure.
In the event of full acceptance of the offer, in fact, in the current situation, Mps shareholders will receive around 4.86 billion new shares, which will be added to the current 17.5 billion or so shares in circulation. The numbers are, however, provisional, since in the coming months it will also be necessary to consider how interim dividends may affect the exchange ratio, while the total number of shares may vary in the event of the completion of the merger of Mediobanca into Mps.
Considering in any case the picture as of today, according to the reconstruction carried out by Radiocor, the first shareholder of the new entity will be Compagnia di San Paolo with a 5.2% share of the capital (from the current 6.602% reported by the Intesa press release), followed by 5% of Blackrock, today a major shareholder of both institutions. The Fondazione Cariplo will then have 4.3% (from 5.5%), while the patrol of current major private shareholders of Mps will see Delfin at 3.8% (from 17.533% of Monte), Caltagirone between 2.2% (based on the 10.262% of Mps reported by Consob) and 2.9% (based on the 13.45% held in mid-April at the last Mps shareholders' meeting) and Banco Bpm 0.8% (from 3.741%).
The Ministry of the Economy, which now owns 4.863% of Mps, will have 1.1% of the new bank. Just under 1.5% will be held by Fondazione CariFirenze and Fondazione Cariparo, just under 1% by Fondazione Carisbo and Fondazione Cr.Cuneo.
