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Reuters
3 days ago
- Business
- Reuters
Italian publisher Class Editori says won't sell majority stake
ROME, June 20 (Reuters) - Paolo Panerai, the founder and main shareholder of Italian publisher Class Editori ( opens new tab said on Friday he had no intention of selling his majority stake in the company. A Milan bourse filing on Thursday showed that Italian businessman Francesco Gaetano Caltagirone, who has been investing in the publisher, had accumulated a stake of more than 5%. Panerai told reporters on the sidelines of an event in Milan on Friday that he saw no risk of a takeover of the company and replied "you must be joking", when asked if he intended to give up control.
Mint
15-06-2025
- Business
- Mint
Mediobanca May Delay Vote on Banca Generali Bid, Repubblica Says
(Bloomberg) -- Mediobanca called a board meeting on Sunday to decide whether to postpone an investor meeting to endorse its plan to takeover Banca Generali SpA, La Repubblica reports, without mentioning where it obtained the information. According to the newspaper, a potential delay of the shareholder meeting, scheduled for Monday, would be justified as some of Mediobanca's shareholders, such as billionaire Francesco Gaetano Caltagirone, asked earlier this month for a postponement due to lack of sufficient information to make a decision. The delay could also be determined by the first counts of the votes, which may show shareholders opposing the Banca Generali deal could be ahead, La Repubblica said. A representative for Mediobanca declined to comment when contacted by Bloomberg. Bloomberg reported on Saturday that UniCredit holds a 1.9% stake in Mediobanca. The Italian bank accumulated the holding in the last six months as residual client trading positions to cover certificates activity of its clients, people with knowledge of the matter said. UniCredit has registered the stake at Mediobanca's shareholder meeting, the people said. UniCredit may join a group of shareholders with interests in both Mediobanca and Assicurazioni Generali to vote for abstention at Mediobanca's shareholder meeting, the people said. The group may include the billionaire families of EssilorLuxottica's late founder Leonardo Del Vecchio, Mediobanca's biggest investor with a 20% stake, and Benetton, which holds 2.2%, some of the people said, adding that no final decision has been taken yet and all options are still open. Mediobanca is part of a complicated web of dealmaking in Italian finance, where cross-holdings, alliances and sometimes conflicting interests mean that developments in one deal have repercussions for others. Chief Executive Officer Alberto Nagel is seeking to buy Banca Generali, the private banking arm of Assicurazioni Generali, and use the shares it holds in the insurer as consideration for the offer. The plan is also aimed at fending off a hostile bid from Banca Monte dei Paschi di Siena SpA. More stories like this are available on
Bloomberg
15-06-2025
- Business
- Bloomberg
Mediobanca May Delay Vote on Banca Generali Bid, Repubblica Says
By and Sonia Sirletti Save Mediobanca called a board meeting on Sunday to decide whether to postpone an investor meeting to endorse its plan to takeover Banca Generali SpA, La Repubblica reports, without mentioning where it obtained the information. According to the newspaper, a potential delay of the shareholder meeting, scheduled for Monday, would be justified as some of Mediobanca's shareholders, such as billionaire Francesco Gaetano Caltagirone, asked earlier this month for a postponement due to lack of sufficient information to make a decision.
Yahoo
10-06-2025
- Business
- Yahoo
U.S. funds Calvert, NYC Comptroller to back Mediobanca's bid for Banca Generali
MILAN (Reuters) -Calvert and New York City Comptroller Brad Lander will vote in favour of Italian merchant bank Mediobanca's bid for private bank Banca Generali on June 16, the two U.S. funds said on their respective websites on Thursday. Mediobanca in April proposed buying Banca Generali from insurer Generali as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS). Due to the MPS bid and Italian corporate takeover rules, Mediobanca must first seek shareholders' approval to pursue the Banca Generali deal and has called a meeting for June 16 to vote on the plan. Italian tycoon Francesco Gaetano Caltagirone, a leading investor in Mediobanca, has expressed a negative view on the Banca Generali bid and is seeking a a delay of the shareholder vote saying key details are still unclear. The two funds did not disclose their stakes in Mediobanca. Sign in to access your portfolio
Yahoo
03-06-2025
- Business
- Yahoo
Mediobanca investor Caltagirone urges bank to delay shareholder vote on Banca Generali
MILAN (Reuters) -Francesco Gaetano Caltagirone, one of the main investors in Mediobanca, is urging its board to delay a shareholder vote on the proposed acquisition of private bank Banca Generali , his holding company VM 2006 said on Tuesday. Mediobanca has proposed buying Banca Generali in an effort to thwart a takeover offer by Monte dei Paschi di Siena (MPS), a bailed-out lender in which Caltagirone is also a shareholder. The Italian tycoon repeatedly expressed a negative view on the Mediobanca's proposed acquisition of Banca Generali, saying that he did not see value in the bid. Due to the MPS bid, Mediobanca must first seek shareholder approval to pursue the deal and has called a meeting on June 16 to vote on the plan. The Italian merchant bank is planning to finance the deal by tendering its 13% stake in Italy's top insurer Generali, which is the controlling shareholder in Banca Generali. The Banca Generali deal includes the signing of an industrial partnership between Mediobanca and Generali. Caltagirone asked Mediobanca's board to postpone the assembly until the partnership agreements, the terms of which are not yet known, are finalised as they are "an essential part of the offer", VM 2006 said in a statement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
