ROME (Reuters) – Italian bank Monte dei Paschi di Siena (MPS)’s all-share buyout offer for Mediobanca on Friday is the latest surprise twist of an increasingly complex banking saga.
Long-awaited Italian banking consolidation has taken off in recent months, triggered by the state selling down its stake in MPS in November, paving the way for a third big banking group to compete with Intesa Sanpaolo and UniCredit.
The latter, not wanting to be left out of a wave of deal making, late last year made its own unsolicited play for Banco BPM, Italy’s third-largest lender.
The situation is made more complex by key shareholders in the banks involved owning stakes in other lenders as well as Italian insurer Generali.
Those shareholders include Delfin, the holding company of late billionaire Leonardo Del Vecchio, and entrepreneur Francesco Gaetano Caltagirone.
The following table sets out the key shareholders in the financial groups involved. Data as of Jan. 23.
Market Cap (mln Value
euros) of
stake
46,262 GENERALI mln
euros
MEDIOBANCA 13.1
6,06
0
DELFIN 9.93
4,59
4
CALTAGIRONE 6.92
3,20
1
BENETTON 4.8
2,22
1
MEDIOBANCA
12,731
DELFIN 19.81
2,52
2
CALTAGIRONE 7.76
9
88
BLACKROCK 4.23
5
39
BANCA MEDIOLANUM 3.49
4
44
MPS
8,778
MEF 11.73
1,03
0
DELFIN 9.78
8
58
CALTAGIRONE 5.03
4
42
BANCO BPM 5
4
39
ANIMA 3.99
3
50
ANIMA
2,126
BANCO BPM 22.4
4
76
POSTE 11.95
2
54
FSI 9.77
2
08
CALTAGIRONE 3.46
74
BANCO BPM
12,508
CREDIT AGRICOLE 15.1
1,88
9
BLACKROCK 5.04
6
30
JPMORGAN 3.06
3
83
CALTAGIRONE 2
2
50
(Compiled by Stefano Bernabei, Editing by Gavin Jones, Tommy Reggiori Wilkes, Philippa Fletcher)
