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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Banca Monte dei Paschi di Siena S.p.A.    BMPS   IT0005218752

BANCA MONTE DEI PASCHI DI SIENA S.P.A.

(BMPS)
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Potential sale of MPS to UniCredit 'inappropriate' with Padoan as chairman - 5-Star

10/15/2020 | 02:35pm EST
Unicredit bank logo is seen in the old city centre of Siena

MILAN (Reuters) - The appointment of former Economy Minister Pier Carlo Padoan as chairman designate of UniCredit would make it inappropriate for the Italian bank to buy state-owned Monte dei Paschi (MPS), lawmakers from Italy's co-ruling 5-Star Movement said.

Padoan oversaw the bailout of Italy's oldest bank, Monte dei Paschi, back in 2017 when Rome spent 5.4 billion euros ($6.3 billion) on a 68% stake. Under an agreement with European Union authorities, the stake must be cut by mid-2022.

UniCredit is considered as the best candidate to take over Monte dei Paschi and bankers had said Padoan's appointment could help to foster a deal.

"It would be paradoxical if, after the public commitment that provided for a support of several billion euros ... today there was a possible sale of MPS to UniCredit with Padoan in the role of chairman," the 5-Star lawmakers wrote in a note.

Both European Commissioner Paolo Gentiloni and Telecom Italia Chairman and former Bank of Italy Deputy Governor Salvatore Rossi on Thursday expressed appreciation for Padoan.

UniCredit on Tuesday named Padoan as a director and said it would appoint him as chairman when it renews the board next spring.

(Reporting by Giuseppe Fonte, writing by Agnieszka Flak)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANCA MONTE DEI PASCHI DI SIENA S.P.A. -0.58% 1.192 Delayed Quote.-13.81%
TELECOM ITALIA S.P.A. -1.05% 0.3883 Delayed Quote.-29.49%
UNICREDIT S.P.A. -0.55% 7.845 Delayed Quote.-38.94%
All news about BANCA MONTE DEI PASCHI DI SIENA S.P.A.
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11/30BANCA MONTE DEI PASCHI DI SIENA S P : Press release
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More news
Financials
Sales 2020 2 936 M 3 541 M 3 541 M
Net income 2020 -1 259 M -1 519 M -1 519 M
Net Debt 2020 - - -
P/E ratio 2020 -1,51x
Yield 2020 -
Capitalization 1 330 M 1 604 M 1 604 M
Capi. / Sales 2020 0,45x
Capi. / Sales 2021 0,46x
Nbr of Employees 22 073
Free-Float 24,3%
Chart BANCA MONTE DEI PASCHI DI SIENA S.P.A.
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Banca Monte dei Paschi di Siena S.p.A. Technical Analysis Chart | BMPS | IT0005218752 | MarketScreener
Technical analysis trends BANCA MONTE DEI PASCHI DI SIENA S.P.A.
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 8
Average target price 1,25 €
Last Close Price 1,21 €
Spread / Highest target 32,8%
Spread / Average Target 3,73%
Spread / Lowest Target -17,0%
EPS Revisions
Managers
NameTitle
Guido Bastianini Chief Executive Officer & Director
Maria Patrizia Grieco Chairman
Vittorio Calvanico Chief Operating Officer
Giuseppe Sica Chief Financial Officer
Maria Elena Costanza Cappello Independent Non-Executive Director