Overview
- Mps has completed settlement and now holds about 62.3% of Mediobanca, with the exchange offer reopened until 22 September.
- CEO Alberto Nagel sold 1 million Mediobanca shares for roughly €22 million, DG Francesco Saverio Vinci sold 400,000 for about €8.8 million, and chair Renato Pagliaro sold 100,000 for around €2.2 million, all from long‑accrued performance awards.
- A Mediobanca board meeting is expected on Thursday with possible resignations by Nagel and Pagliaro, as internal names such as Vinci and Gian Luca Sichel are floated as temporary leaders.
- Control of Mediobanca gives Mps a 13.22% stake in Generali, and government officials are reported to be studying a stable shareholder core to safeguard the insurer.
- Lovaglio has signaled integration and governance work will precede any merger, though a very high acceptance level could later enable a delisting and prompt a merger-by-incorporation review.