Unicredit weak with ex-dividend and questions over Delfin stake
The moves of the Del Vecchio family's holding company, which holds 2.7 per cent of the capital, are beginning to be considered. In the event of a sale it would make around 1.8 billion, with a capital gain of around 400%.
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(Il Sole 24 Ore Radiocor) -Unicredit weak at Piazza Affari, suffering both from the dividend detachment and speculation that is starting to reason about the moves of Delfin, the Del Vecchio family's holding company that holds 2.7% of the capital. Stocks in Piazza Gae Aulenti today detached their dividend of €0.9261 per share.
Investors are cautious towards the securities of the Andrea Orcel-led institution, waiting to see whether the bank will succeed in taking over Commerzbank, after the resistance shown by the establishment and German politicians. The talks between the two institutions' top management, however, are going ahead and were also held in the past few days, as reported by the media. The market, meanwhile, also wonders about the moves of Delfin, which for years has been Unicredit's first private shareholder (the third in general), with a 2.7% stake. Last Saturday's Il Sole 24 Ore reported that Unicredit's German operation 'would have undermined the unconditional harmony that has characterised the relationship between Delfin and UniCredit, because it would have displaced Milleri (CEO of Delfin and the Essilorluxottica group, ed.)'. Last week it emerged that Delfin itself had taken over 3.5% of the capital of Mps from the Mef, entering the game of the Sienese bank and perhaps shifting its interests. "Various sources read Delfin's decision to intervene in Mps - in the past examined by Orcel and on paper the second option after Commerzbank - as anothersignal of greater weakness of that historical link built by Leonardo Del Vecchio," wrote Il Sole 24 Ore, which however points out that "as of today no decision has been taken. In any case if Delfin decided to sell the stake in Unicredit, it would yield around 1.8 billion, with a capital gain of around 400%.
