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    BMED   IT0004776628

BANCA MEDIOLANUM S.P.A.

(BMED)
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Mediolanum not necessarily looking at selling stake in Mediobanca - CEO quoted

10/06/2021 | 02:55am EST
FILE PHOTO: Italy's Mediobanca headquarters is seen in Milan

MILAN (Reuters) - A power struggle at Italy's Mediobanca does not necessarily mean that Banca Mediolanum would sell its 3.3% stake in the merchant bank, Mediolanum's chief executive was quoted as saying.

Billionaires Leonardo Del Vecchio and Francesco Gaetano Caltagirone have built up stakes in Mediobanca and have been at odds with Mediobanca CEO Alberto Nagel over strategy at Italy's top insurer Generali. Mediobanca is the largest shareholder in Generali.

"With the arrival of two new important shareholders such as Del Vecchio and Caltagirone, the stability of the institution could change," daily Il Messaggero quoted Mediolanum CEO Massimo Doris as saying in a preview of an interview that will be published on Thursday.

"This does not mean that we would leave just because of the possible change in governance; we would simply have a chance of assessing the news more serenely and of taking more pondered decisions," Doris added.

Doris also repeated that he had "an excellent relationship" with Nagel, was satisfied with the results achieved so far, but also reiterated that he was not interested in a merger with Mediobanca.

Del Vecchio, founder of eyewear maker Luxottica, owns 18.9% of Mediobanca and became its single biggest investor in 2019 at a time when a core of longstanding shareholders in the Milanese bank unravelled.

Construction magnate Caltagirone has built a 3% stake in the merchant bank.

(Reporting by Maria Pia Quaglia, editing by Edwina Gibbs)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASSICURAZIONI GENERALI S.P.A. -1.10% 18.495 Delayed Quote.31.14%
BANCA MEDIOLANUM S.P.A. -0.94% 8.628 Delayed Quote.18.87%
MEDIOBANCA S.P.A. -1.08% 10.105 Delayed Quote.35.48%
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Analyst Recommendations on BANCA MEDIOLANUM S.P.A.
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Financials
Sales 2021 2 233 M 2 534 M 2 534 M
Net income 2021 631 M 716 M 716 M
Net cash 2021 54,4 M 61,7 M 61,7 M
P/E ratio 2021 10,6x
Yield 2021 7,45%
Capitalization 6 353 M 7 201 M 7 208 M
EV / Sales 2021 2,82x
EV / Sales 2022 2,72x
Nbr of Employees 3 174
Free-Float 28,8%
Chart BANCA MEDIOLANUM S.P.A.
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Banca Mediolanum S.p.A. Technical Analysis Chart | BMED | IT0004776628 | MarketScreener
Technical analysis trends BANCA MEDIOLANUM S.P.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 8,63 €
Average target price 10,18 €
Spread / Average Target 18,0%
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Managers and Directors
Massimo Antonio Doris Chief Executive Officer, MD & Director
Giovanni Pirovano Chairman
Anna Eugenia Maria Omarini Independent Director
Mario Notari Independent Director
Francesco Maria Frasca Independent Director
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