Deputies, negotiations between Unicredit and the government were interrupted – Corriere.it

after, after Rumors of the last few hours, official arrived: Treasury Department NS Unicredit they have Negotiations over MPs have been suspended.

The most awaited banking merger, MPS’s merger with Unicredit, is missing, the process that would have completed (re)privatization of the Siena Institute, one of the toughest and most expensive games inherited from the Draghi government. Despite the efforts of both parties, UniCredit and the Ministry of Economy and Finance are reportingInterruption of negotiations regarding a potential acquisition For Specific Banca Monte dei Paschi di Siena, a statement issued on the afternoon of Sunday, October 24, on the eve of the reopening of financial markets, and after increasingly pressing rumors about the unwillingness of the Treasury to support the recapitalization of the 7 billion del Monte dei Paschi, a financial effort considered Too punitive for taxpayers. On the pockets of the latter, the dramatic events on the bank of Siena deeply affected. The Treasury found itself a shareholder with a largely majority stake of 64% after it avoided default.

The Milan group led by Andrea Orsel and chaired by former minister Pier Carlo Padoan, and the only one who agreed to open negotiations, sat at the table last July. They are asking to recapitalize more than 7 billion (The first proposal was 9 billion) to strengthen the dowry before the transfer of property, which, in any case, would have to do only with the most profitable activities of the representatives, i.e. the specific perimeter indicated in the joint memorandum. Among the unresolved issues is the problem of redundancy It is estimated at about 7000 people.

Already in August, in a speech to the Finance Committees of the House and Senate, Minister Daniel Franco He expected that negotiations would not take place at any cost.

Now the government will – in all likelihood – have to negotiate with the European Commission for a longer period of time for privatization, which was expected to start at the end of the year with the budget closing for fiscal year 2021 and in the meantime. Contact Search for an Investor. In the meantime, the consolidation plan prepared by MPS CEO Guido Bastianini could be reviewed and at least partially resubmitted to the European Central Bank.

For Siena Mayor Luigi De Mossi, Mps are the heritage of the country not only from the city. It will not be the scandal of Europe’s demand to extend the country’s stay in Parliament. As we unfortunately well know, given what happened in Monti in the past, the right time is required for this type of operation.