Cimbri of Unipol pampered by everyone (even the newspaper) not only for MPS
Who and how follows with unbridled passion the aims of the Unipol group headed by Carlo Cimbri. The MPS dossier and more. Francis Walsingham's letter
Dear director,
I saw that in recent days you have relaunched the indiscretion on of economics and finance rushed to the call of the director Alessandro Sallusti and Nicola Porro, deputy director ad personam (what does that mean?, who takes the salary of deputy director without actually holding the position?, fantastic if that's really the case). I inform you that here in Milan it is also said that even the journalists who worked alongside Indro Montanelli in the first years of the foundation were not invited. Possible? Can you make sure? The omission seems truly unfortunate to me, if true (but colleagues from other newspapers assure me of this).
Instead, dear editor, do you know who is attending the 50th anniversary party of the quintessential liberal-conservative newspaper with great ease? The head of the Unipol group. Yes, precisely the leading group and collector of the red cooperatives so mistreated for decades by the Milanese newspaper (and they tell me that even you, as a novice reporter, lingered in pieces headlined not exactly soberly by the editorial leaders, right?).
Exactly, Carlo Cimbri himself, company head and deus ex machina of the insurance giant and now also credit and healthcare, hotel and much more, as I read in dry and detailed pieces recently on Start Magazine . Yes, the same Unipol that waged war in the courts over the affair reported at the time by the Giornale against Unipol in the wake of that little phrase (“We have a bank”) said by Piero Fassino.
I don't know how that legal dispute ended , but Cimbri certainly doesn't give a damn, given that he immediately accepted the invitation from the leaders of the newspaper now published by the Angelucci family, with free-range origins just like Cimbri.
On the other hand, the passion of Unipol's number one for publishing and communication is well known. With Cimbri, Unipol is a shareholder of the Rizzoli-Corriere della Sera group with 4.89% , it is also a small shareholder of Agostin or who almost follows with admiration the many undertakings not only in insurance of Cimbri ( a post by Porro is memorable ) and celebrated worthily and appropriately after being named Knight of Labor by the Quirinale .
On the other hand, Cimbri himself – as a communications wizard – is very good at being at the center of media attention for his activism in the world of finance. Indeed, I am surprised that the formidable algorithms underlying the renowned Reputation Manager rankings do not sufficiently reward Cimbri's talent as it deserves.
Unipol is also currently under the spotlight on the stock exchange after Cimbri's latest statement on MPS.
“There is nothing in the immediate future but you can never say”: this is how Cimbri responded to the rumors according to which Bper (controlled by the insurance company) may be interested in the MPS dossier. “Bper has its own growth path; has recently changed top management and Papa has a path outlined before him which is already as it is. There is nothing in the immediate future", he said, speaking at a conference organized for the 50th anniversary of Il Giornale , adding that "then the market is made up of discontinuities, opportunities can be created and you cannot mortgage" the future. I think of what happened with the Cassa di Genova. You can never say, but today there is nothing", concluded Cimbri who highlighted how "candied fruit is few, ours is a small market".
“Once again, therefore, it is the Unipol hub (+0.8%), formed by the insurance company and its banking subsidiaries (Bper and Popolare di Sondrio) that is at the center of investors' attention, with the reopening of the MPS dossier", the Radiocor agency of the Il Sole 24 Ore group wrote today: "Next week, on 2 July, the lock-up on the residual portion of MPS shares held by the Mef expires, which currently amount to 26.73 %. In this context, it is possible that the first shareholder chooses to further reduce the stake through an accelerated placement or that negotiations are initiated for the intervention of new shareholders. In recent months, the Mef has demonstrated that it has access to the capital market, but did not appear convinced regarding the construction of a third banking hub. It should be underlined that there are not many candidates: UniCredit and Banco Bpm have already declined, Intesa Sanpaolo in Italy is blocked by the Antitrust and the French Credit Agricole has already invested in our country and controls around 10% of Banco Bpm".
“The only real remaining industrial candidate – the Intermonte analysts underline – is Bper with its main shareholder Unipol which could decide to purchase a stake, awaiting the expiry of the Bancassurance partnership with Axa”, set for 2027. “ We believe that the industrial rationale behind a possible move by Unipol to Banca Mps is undoubtedly relevant in relation to a future partnership in the bancassurance sector", the brokers remarked.
But despite these underlinings, in the operating rooms of those who invest in the stock market many – all? – they think that there is more than just a partnership in the bancassurance sector between Unipol and MPS at stake.
“Cimbri make us dream, get another bank after Bper”, is the implicit invitation that many think of Cimbri. Who can't wait, perhaps, who knows, to satisfy these investors' desires.
In the meantime, Carlo makes not only the left-wing press dream but also the Giornale degli Angelucci and even Dagospia .
Go Cimbri!
And on the basis of Porro's recent prose ("The insurance boss took to the wind. That of the trade winds, which blow between the end of October and November. And he decided to make the Atlantic crossing with a couple of trusted friends and a catamaran" ), I say: full steam ahead towards another journey into the fantastic world of finance and banking.
Francis Walsingham
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/cimbri-di-unipol-coccolato-da-tutti-anche-dal-giornale-non-solo-per-mps/ on Mon, 24 Jun 2024 13:35:44 +0000.