Silvia's Feed
Nov 28, 2014

Intesa says Coutts international arm less valuable than whole group

MILAN, Nov 28 (Reuters) – Intesa Sanpaolo will
definitely consider bidding for Royal Bank of Scotland’s
wealth management arm Coutts if the whole unit is put up for
sale but is less inclined to buy only its international
operations, its chief said on Friday.

Flush with 16 billion euros ($20 billion) of excess capital,
Italy’s biggest retail lender is seeking to expand into private
banking and asset management – particularly in Switzerland,
Asia, the United States and Britain.

Nov 21, 2014

Telecom Italia seals $1 billion masts deal, to examine tie up with Oi

MILAN/BARCELONA (Reuters) – Telecom Italia (TLIT.MI: Quote, Profile, Research, Stock Buzz) will examine a possible tie-up between its Brazilian unit Tim Participacoes (TIMP3.SA: Quote, Profile, Research, Stock Buzz) and local group Oi (OIBR3.SA: Quote, Profile, Research, Stock Buzz), it said as it announced the sale of mobile phone masts for more than 900 million euros ($1.1 billion).

Brazil’s telecom market is in the process of consolidating as growth in mobile telephony slows and operators bulk up to fund hefty investment in broadband networks.

Nov 21, 2014

Telecom Italia likely to sell Brazil towers to American Tower

BARCELONA/MILAN, Nov 21 (Reuters) – Telecom Italia
will likely sell the mobile phone towers of its Brazilian unit
to American Tower Corp for almost the full targeted
amount of 900 million euros ($1.1 billion), two sources familiar
with the situation told Reuters.

According to one of the sources, a deal had already been
worked out and could be announced at a Telecom Italia board
meeting on Friday.

Nov 12, 2014

UBI says no Monte Paschi tie-up on the table for now

MILAN, Nov 12 (Reuters) – Italy’s fifth biggest bank UBI
Banca, tipped as a possible bidder for Monte dei Paschi
di Siena, could consider merger options in Italy and
Europe but has no proposals on the table for now, its chief
executive said on Wednesday.

“Would I consider something in Italy and Europe? Yes. But
there are no open dossiers on the table,” Victor Massiah said in
a conference call when asked about press speculation that his
bank could rescue Monte dei Paschi.

Nov 5, 2014

Monte Paschi approves capital increase for up to 2.5 billion euros

MILAN/LONDON (Reuters) – Monte dei Paschi di Siena (BMPS.MI: Quote, Profile, Research, Stock Buzz) will tap investors for up to 2.5 billion euros next year to fill a capital deficit laid bare by recent stress tests and pay back state aid in a move bankers said would prepare the Italian lender for a likely takeover.

The future of Italy’s third biggest bank, the world’s oldest, has been hanging in the balance after a review overseen by the European Central Bank showed it to be the weakest large bank in Europe with a capital hole of 2.1 billion euros that needs to be filled within nine months.

Nov 5, 2014

Monte Paschi set to approve capital increase for up to 2.5 bln euros

MILAN/LONDON, Nov 5 (Reuters) – Italy’s Monte dei Paschi di
Siena is likely to tap investors for up to 2.5 billion
euros next year to fill a capital shortfall laid bare by recent
stress tests, pay back state aid and prepare itself for a
possible takeover, banking sources said.

The future of Italy’s third biggest bank, the world’s
oldest, has been hanging in the balance after a review overseen
by the European Central Bank showed it to be the weakest large
bank in Europe with a capital hole of 2.1 billion euros that
needs to be filled within nine months.

Oct 30, 2014

Monte dei Paschi extends slide on uncertainty over funding gap

MILAN, Oct 30 (Reuters) – Shares in Italy’s Monte dei Paschi
di Siena dropped as much as 16 percent on Thursday,
which means the bank is currently trading at less than half its
value in early June when it raised 5 billion euros in new
capital.

Monte dei Paschi shares have lost 37 percent since the
results of Europe-wide bank stress tests were made public on
Sunday. They revealed that the bank has a 2.1 billion euro (2.65
billion US dollar) capital gap to fill, the biggest outstanding
deficit of any of the 130 banks in the tests.

Oct 28, 2014

Luxottica dual CEO structure a test of a management textbook no-no

MILAN, Oct 28 (Reuters) – The recent management overhaul at
Luxottica is testing one of the corporate world’s textbook
no-no’s: dual CEOs.

The world’s biggest eyewear maker last week announced that
veteran Procter & Gamble manager Adil Mehboob-Khan would
be chief executive together with longtime Luxottica manager
Massimo Vian. The appointments are expected to be rubber-stamped
at a board meeting on Wednesday.

Oct 28, 2014

Monte Paschi eyes delay to aid repayments to plug funding gap

ROME/MILAN, Oct 28 (Reuters) – Banca Monte dei Paschi di
Siena may seek to delay repaying hundreds of millions of euros
in state aid to help shore up its balance sheet as it explores
strategic options which could include a merger, chairman
Alessandro Profumo said on Tuesday.

Profumo and Monte dei Paschi Chief Executive Fabrizio Viola
met Economy Ministry officials on Monday to consider the bank’s
next move after European Central Bank stress tests exposed a 2.1
billion euro ($2.7 billion) capital shortfall.

Oct 27, 2014

Asset sales loom as Monte dei Paschi seeks to fill capital hole

MILAN/LONDON, Oct 27 (Reuters) – Italy’s Monte dei Paschi di
Siena is likely to have to sell assets to fill a
capital hole uncovered by European regulators, with shareholders
reluctant to stump up cash after a recent fundraising and
would-be buyers of the bank holding back.

Investment bankers say a takeover may be inevitable, but it
is not going to happen overnight, leaving Italy’s third-biggest
bank scrambling to plug at least part of its capital shortfall
before it finds a white knight.