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Mediobanca is countering a hostile bid from Monte dei Paschi di Siena with a €6.3bn offer for wealth manager Banca Generali, aiming to transform into Italy's version of UBS. This strategy could enhance its market value by 5-10%, appealing to institutional investors and potentially satisfying rebel shareholders. However, the deal's success is uncertain, as Banca Generali may attract competing offers.
UniCredit has expressed support for a CEO critic in the upcoming Generali board vote, as shareholders convened in Trieste to elect a new board for a three-year term. This vote highlights ongoing tensions between management and key investors, including Mediobanca SpA, Generali’s largest shareholder, and the families of the late Leonardo Del Vecchio and Caltagirone, the second- and third-largest shareholders, respectively.
UniCredit is supporting a CEO critic in the upcoming Generali board vote, as shareholders convened in Trieste to elect a new board for a three-year term. This vote highlights ongoing tensions between management and key investors, including Mediobanca SpA and the families of the late Leonardo Del Vecchio and Caltagirone.
UniCredit has raised its stake in insurer Generali to between 6% and 7%, up from 5.3% in April, ahead of a crucial shareholder vote for a new board. CEO Andrea Orcel aims to bolster his influence amid ongoing consolidation in the Italian banking sector, aligning with investor Francesco Gaetano Caltagirone against Mediobanca. This support could help UniCredit navigate government opposition to its takeover bid for Banco BPM, which faces new conditions that may jeopardize the offer.
UniCredit has emerged as a significant investor in Generali with a 6.7% stake, backing rebel investor Francesco Gaetano Caltagirone in a recent shareholder vote, despite Caltagirone's defeat. This move may influence government opposition to UniCredit's takeover bid for Banco BPM, which faces challenges from both the government and Credit Agricole, its main investor. CEO Andrea Orcel's strategy includes leveraging the Generali stake to enhance bargaining power amid ongoing battles in Italian finance.
Warren Buffett's recent decision to trim his stake in a major US bank, while still holding a substantial $30 billion investment, reflects potential concerns in the banking sector. Citigroup Inc. (NYSE:C) ranks 5th among the best bank stocks favored by billionaires, reporting a significant turnaround with a net income of $2.9 billion in Q4 2024. As the banking industry navigates economic uncertainties, billionaires are closely monitoring opportunities, particularly in the evolving landscape of financial services.
Warren Buffett's recent decision to sell nearly $1 billion in shares of a major US bank raises concerns about the banking sector, despite his continued $30 billion investment in the same institution. As billionaires increasingly invest in banking, Goldman Sachs stands out with strong earnings and a new Capital Solutions Group, while the sector faces challenges from economic headwinds and shifting regulations. With a stable outlook for 2025, banks may benefit from improved loan demand and a better operating environment, although high consumer debt and geopolitical tensions pose risks.
Italian tycoon Caltagirone has increased his stake in the asset management firm Anima. This move highlights his growing influence in the financial sector, reflecting ongoing strategic investments in key market players.
Italian Finance Minister Giancarlo Giorgetti has engaged the country's wealthiest investors, including billionaire Francesco Gaetano Caltagirone and the Del Vecchio family, to facilitate the return of Banca Monte dei Paschi di Siena SpA to private ownership. Over ten days, he secured support from Banco BPM SpA, along with approvals from the Bank of Italy and the European Central Bank.
Francesco Gaetano Caltagirone
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mediobanca launches bid for banca generali amid hostile takeover attempt
Euro
Banca Generali
Assicurazioni Generali
Banca Monte dei Paschi di Siena
ITA
Francesco Gaetano Caltagirone
Alberto Nagelberg
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06:01 29.04.2025
uniCredit supports ceo critic in generali board election amid tensions
08:18 25.04.2025
UniCredit supports CEO critic in Generali board election amid shareholder tensions
08:18 25.04.2025
unicredit increases stake in generali ahead of crucial shareholder vote
Euro
United States Dollar
Banca Generali S.p.A.
Banco BPM S.p.A.
UniCredit S.p.A.
ITA
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Giorgia Meloni
Gianluca Semeraro
Valentina Za
Francesco Gaetano Caltagirone
Bernadette Baum
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10:04 24.04.2025
UniCredit supports Caltagirone in Generali board battle amid takeover challenges
Banca Monte dei Paschi di Siena
Banca Generali S.p.A.
UniCredit S.p.A.
Banco BPM S.p.A.
CREDIT AGRICOLE
ITA
Andrea Orcel
Philippe Donnet
Francesco Gaetano Caltagirone
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10:04 24.04.2025
billionaires favor citigroup amid banking sector uncertainties and economic challenges
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Berkshire Hathaway Inc.
Citigroup Inc.
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Francesco Gaetano Caltagirone
Warren Buffett
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20:15 19.03.2025
goldman sachs ranks among top bank stocks favored by billionaires
United States Dollar
Berkshire Hathaway Inc.
The Goldman Sachs Group, Inc.
USA
Leonardo Del Vecchio
Francesco Gaetano Caltagirone
Warren Buffett
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20:10 19.03.2025
Caltagirone increases investment in asset manager Anima
19:20 09.12.2024
Italy's finance minister rallies tycoons for Banca Monte dei Paschi sale
EssilorLuxottica SA
Banco BPM S.p.A.
Banca Monte dei Paschi di Siena SpA
ITA
Francesco Gaetano Caltagirone
Giancarlo Giorgetti
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18:19 14.11.2024
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