MPS: the Caltagirone Group will vote against the public exchange offers at the shareholders’ meeting on 29 October
(Il Sole 24 Ore Radiocor) - The Caltagirone group has officially confirmed that it will vote against the proposals at the extraordinary general meeting of MPS scheduled for the end of the month, which is expected to approve, amongst other things, the two public exchange offers (OPs) for Banco BPM and Banca Generali, and the capital reduction aimed at paying the special dividend partly in Generali shares. With Caltagirone’s ‘no’ vote following those of Delfin and the Benettons, the proportion of Rocca Salimbeni’s bank’s shareholders opposed to the deal devised by CEO Luigi Lovaglio to counter Intesa Sanpaolo’s hostile takeover bid has risen to over 32 per cent. The statement indicates that the board of directors of F.G.C. SpA “has fully endorsed the assessments of the Committee of Independent Directors and has unanimously resolved to vote against all five items on the agenda of the extraordinary general meeting of Banca MPS.”
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