Intesa's exchange offer on Ubi came "at the end of the important day on which we presented our business plan, welcomed by the market and all stakeholders with great consensus and appreciation". Ubi learned the news from "a press release" and the operation "was not agreed upon or known to our board of directors and management", as "represented" by Intesa. This is what Ubi CEO Victor Massiah writes to employees in a letter viewed by ANSA.
"Before becoming a project, it will have to go through a complex, and by no means taken for granted, authorization process of the supervising authorities and approval by the assemblies". The CEO of Ubi, Victor Massiah, writes this in a letter to the employees of the group.
"It is very early to make considerations, but it is important to underline how this operation represents, for the moment, only one proposal". This was written by Ubi's CEO, Victor Massiah, in a letter - which ANSA was able to read - sent to the employees of the group. "The offer - he adds - will, according to Intesa Sanpaolo, be filed with Consob by March 7 next. Before the start of the membership period, expected by the end of June, Ubi's board of directors will have to comment on it, downstream of an adequate investigation ".
Gualtieri: 'Ok consolidation, politics stay out' - "It is a market operation, there is an oops in progress, I cannot comment. Certainly it is important that there is a consolidation of our banking system". Economy Minister Roberto Gualtieri said this when speaking of the Intesa SanPaolo oops on Ubi. In the face of market operations, he added, speaking to Circo Massimo, "it is good that politics is out".
Gros-Pietro: 'O fferta su Ubi liked by the market' - Intesa Sanpaolo's offer "liked the market". "I think the market reaction has given a measure of the advantage that all shareholders get from this operation." So the president of Intesa San Paolo, Gian Maria Gros-Pietro, commented on the stock exchange's reaction to the OSS on Ubi in the margins of the ABI executive. "I expect a positive response from the shareholders. If I were a shareholder I would give a positive response, given the assessment that the market has given. If I were a shareholder I would be happy with how the value of my stock has changed from morning to night" . Gian Maria Gros-Pietro, president of Intesa, said this at the end of the ABI executive, speaking of the oops on Ubi Banca.
Europe grows after Wall street: Intesa and Ubi flat - Few movements on the stock markets of the Old continent after the start of Wall street, with European price lists confirming their rise pending the release of the minutes of the last Federal open market tonight Fed committee (Fomc), which is expected to give some signal on US rate policy. Milan (Ftse Mib + 0.9%) remains the best stock exchange on the continent by some fractions, followed by London and Paris (+ 0.8%), with Frankfurt rising by half a percentage point. In Piazza Affari, MPS in particular is always doing well, growing by 8% over two euros, looking at the news in the banking sector and with the sale of bad debts which, according to Economy Minister Roberto Gualtieri, will take place through a "market solution in the expected time ". Strong purchases also on Prysmian (+ 4%), Pirelli and Moncler, which rose by three points, Intesa flat (+ 0.3%) and Ubi (+ 0.1%), down more than 2% Campari after results fourth quarter below estimates and negative by 3% Astm.
