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July 31, 2021 "No negotiations without involving social partners and the territory". This is what Eugenio Giani, president of the Tuscany Region said in a note, about the negotiation announced by Unicredit to take over the activities of Banca Mps.



"It is a bank that has a strong social, as well as economic value - argues Giani -, which lies in the centuries-old relationship with the territory of Siena and Tuscany and the news of a proposal by Unicredit to the Treasury for its acquisition and incorporation. it can only be subject to economic and financial market evaluations ".



"Like the Parliament - continues Giani -, also the Region and the local authorities involved must be made aware, in a timely manner, of the concrete elements of a proposal that could lead to the loss of thousands of jobs, of a know-how of excellence and a unique historical brand. All this in a reality, like Siena, which has already been severely tested by what has happened over the years, with hetero-direct operations, the last of which was the unfortunate purchase of Antonveneta ".



The Democratic Party calls the Minister Franco

The acceleration of the Unicredit-Mps operation - with the opening of negotiations with the Mef by the Milanese institute to acquire a perimeter of the historic Tuscan bank - bursts into the electoral campaign for the Siena seat to the supplementary for the Chamber, where the Pd fielded the secretary Enrico Letta.



The

Democratic Party

asks for a discussion in Parliament: "We hope that Minister Franco will come and report to the competent committees of the Chamber and Senate regarding any transactions concerning MPs, as, among other things, provided for by Article 1, paragraph 243, of the Budget Law for 2021. It is essential that Parliament is involved in its appropriate seats ", the presidents of the Pd groups of the Chamber and Senate say in a joint note. Debora Serracchiani and Simona Malpezzi.



"We believe it is essential that the government - majority shareholder of Mps - discuss in Parliament the reasons for the operation and the prospects of the bank and immediately initiate a discussion with the trade unions and the territorial institutions involved", explained Antonio Misiani, Head of the Secretariat's Economics Pd, and Simona Bonafè, secretariat of the Pd Toscana.



Even

Forza Italy

does not hide his disappointment: "Forza Italia is the party that first dealt with this issue at local and national level, even when no one dared to talk about it. And today Forza Italia will not be silent even for a day: it will shout at the scandal alongside of workers, worried about the hypotheses of redundancies that are read, of trade unions, which have been excluded from the negotiations, of local institutions, which at present have not been heard at national level ", declared Massimo Mallegni, vice president of the Azzurri senators and Regional coordinator of the party in Tuscany, Massimo Castellani, group leader and head of the Banks Department of Forza Italia Toscana, and Lorenzo Loré, municipal councilor and provincial coordinator Forza Italia Siena.



He is echoed by the Minister of Public Administration, Renato Brunetta: "I wonder if this was the right time for Unicredit to make this type of offer on Monte dei Paschi. Probably not. But I am concerned above all about the economic dimensions of this operation. - he adds - that it is part of the system and that it affects the entire Italian banking system ".



Critics also

M5s

and

Lega

. "The sale of the public shares of Monte dei Paschi di Siena should take into account the principle of competition, preventing a single systemic bank, such as Unicredit, from gaining an advantage over all the others", underline the pentastellated deputies in the Budget Committee. While Matteo Salvini warns: "We must negotiate more time with Europe, otherwise we will give Unicredit a gift. If the government thinks of making a blitz with Unicredit on Monte Paschi, we will make ourselves heard". For the leader of the League: "We have to be very careful because there are 22,000 jobs at stake, 1,400 branches: it is the oldest bank in the world. No gifts are given".



Negotiation

An official note from Unicredit broke the delay and announced the start of talks with the Mef for the privatization of Monte dei Paschi di Siena. Unicredit has relaunched the possibility of acquisition, subordinating it to very specific requests.



For some time now, the Mef has identified Unicredit as the best buyer of the Sienese institute, which needs another 2.5 billion euros of capital after the 2017 bailout costing 5.4 billion euros.



The note states that the Milanese group could benefit from the operation, in organic growth plans and in obtaining "sustainable returns higher than the cost of capital".



The valuation is based on the Mps potential able to provide approximately 3.9 million customers, 80 billion euro of customer loans, 87 billion euro of customer deposits, 62 billion euro of assets under management 42 billion euro of masses in administration.



Furthermore, the acquisition could strengthen Unicredit's position especially in the Center-North, where MPS concentrates its branches.