The risk, the General Understanding to the test of the Cda – Il Sole 24 Ore

After the rumors of the end of the week and the defensive move with which the General has bought 3% of the voting rights in Intesa, the ball now goes to the board of the two companies. The board of directors of Lion will meet on Wednesday in Milan and the centre of the meeting there should be the exit of the director-general, Alberto Minali. Also, the directors of Intesa Sanpaolo, however, according to Radiocor Plus are in early warning. In the week, in fact, should keep a board on the budget by 2017.

the General to the counter-attack buy the 3% of the rights Agreement

The convocation has not yet begun, but should not delay to arrive. Issues related to the possible offensive of the institute led by Carlo Messina on General originally were not foreseen, but the news emerged in recent days may have changed priorities. As reconstructed in financial circles, the idea of a move, Intesa Sanpaolo, Generali has matured last week. Some observers note that Intesa Sanpaolo enters this year in the last financial year of the business plan and this leaves the door open to a new strategy. The idea that seems to be gained in the management is to build a pole of bancassurance in Italy, combining the activities of the General to those of Intesa Sanpaolo Vita, giving at the same time, activities outside Italy with other operators such as Allianz or Axa.

in General, towards the reorganisation of governance. Minali in the negotiation for the release

The operation, in Italy, should not incur, in particular, antitrust issues since they operate in a fragmented market and with a strong competitor such as Poste Vita. The decision of the General purchase 3% of the voting rights in Intesa Sanpaolo, however, at the moment it seems to block on the birth of the project saw that actually prevents the Ca’ de Sass of entering the capital of the Lion, the less than to launch a public tender offer or find alternative solutions.
Intesa Sanpaolo sees as the main shareholder of the Company Sanpaolo with 9.3%, followed by the Cariplo Foundation to 4.8%) and Fondazione Cariparo (Padova and Rovigo) to 3.3%. The first shareholder of the General is, instead, Mediobanca with 13%, followed by Caltagirone to 3,56%, and from Delfin Del Vecchio to 3.16%.

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