Intesa-Ubi: part of the subscription period for Ops, closes on 28/7

(ANSA) - MILAN, JULY 06 - IntesaSanpaolo's Ops on Ubi Banca started today, with the adhesion period ending July 28th. The offer proposes an exchange of 1,7 Intesa shares for one of Ubi. Today Intesa earns 2.5% in PiazzaAffari at 1.79 euros and Ubi 1.6% at 3.12 euros.
    On July 3, the unanimous rejection of the Ubi board of directors had arrived, which updated the business plan to 2022, talking about a potential dividend total of 840 million euros, about 330 million more than expected from the plan announced in February and spreading valuations of advisors according to which the exchange would be penalizing for Ubi shareholders. Today the reply from Intesa, which states that "due to the revaluations of the Board of Directors of Ubi Banca on the non-adequacy of the exchange rate ratio of the offer, a homogeneous approach has not been adopted" for the two credit institutions, in addition to intervening on an updated industrial level, claiming that "despite a revised downward profitability - and in contrast to what historically recorded by Ubi - indicates an increase, compared to what was previously communicated, of the target in terms of cumulative distribution of dividends in the three-year period 2020-2022". (HANDLE).