Mps rises to 86.3% of Mediobanca at the closing of the Opas
The Opas officially closed with 86.33% subscriptions, registering a final sprint compared to the shares contributed by shareholders last Friday (which came to 70.48% of the capital).
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Eight months after its announcement, Mps has now covered all 360 kilometres separating Rocca Salimbeni from Piazzetta Cuccia, thus completing its climb to Mediobanca. The Opas officially closed a few minutes ago with 86.33% adhesions, registering a final sprint compared to the shares contributed by shareholders last Friday (which came to 70.48% of the capital).
The final threshold, as is known, now paves the way for the merger between the two institutions, but without triggering the obligation for Rocca Salimbeni to purchase the residual shares (given that the overall adhesions did not reach the 90% threshold, after which the so-called 'residual takeover bid' is automatically triggered, giving the minority shareholders a last right of exit).
In any case, Monte dei Paschi's hold on Piazzetta Cuccia will allow Siena's management to quickly and easily realise the industrial synergies estimated in CEO Luigi Lovaglio's plan, including a possible delisting of the Milanese merchant bank. There are many hypotheses currently on the table (including, obviously, the merger), which envisage varying degrees of autonomy for the Mediobanca of the future within the new enlarged group. The ball is now in the court of Siena, which, by the shareholders' meeting of 28 October, with the board of directors and CEO Alberto Nagel already resigning, will have to indicate the new ferrymen to manage this transitional phase.
