Mps, negotiations between Mef and Unicredit have been interrupted

• Mps-Unicredit, negotiated with Mef towards the stop

• Mps, Franco: "It will not be a sale, a solution in the interest of the country"

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24 October 2021 The Ministry of Economy and Finance and UniCredit, with a joint press release, gave the news of the interruption of the negotiations for the potential acquisition of a defined perimeter of Banca Monte dei Paschi di Siena.

"Despite the efforts made by both parties, Unicredit and Mef communicate the interruption of negotiations relating to the potential acquisition of a defined perimeter of Banca Monte dei Paschi di Siena".

After the numerous indiscretions and rumors of the past few hours, the official announcement has arrived on the breaking and cancellation of the negotiations between the Treasury and the banking group. The note arrived a few days after October 27, the day on which the Board of Directors of the UniCredit quarterly report is convened. It is likely that there was a request on this from Consob.

In a joint note Luigi Marattin, president of the VI Finance Commission of the Chamber, and Luciano D'Alfonso, president of the VI Finance and Treasury Commission of the Senate highlighted: "Following the press release from the Ministry of Economy and Finance announcing the stop the negotiations with Unicredit Spa for the sale of the stake in the Monte dei Paschi di Siena bank currently in the hands of the public sector, in line with the commitments made by Minister Daniele Franco at the hearing on 4 August last, we are requesting that the Minister of Economy and Finance, or the Director General of the Treasury, should promptly report to the Finance Committees of the Chamber and Senate on the situation relating to MPS and its future prospects ".

The

 immediately put pressure on Enrico Letta, secretary of the Democratic Party and neo-deputy of Siena: "What solution does the Honorable Letta, elected a few days ago in Siena, propose? Months, years, billions and jobs lost due to the Democratic Party" , said sources of the party led by Salvini after the latest news on the negotiations with Unicredit.

The Mef del Monte dei Paschi di Siena controls 64% and must exit with the closing of this year's financial statements. This is what the commitments made with Brussels require. Unless it is possible to negotiate for an extension of the sale of at least 6 months, until June next year. 

Luigi De Mossi, mayor of Siena, says on Mps: "It would not be a scandal if Draghi, thanks to his authority, asked Europe for an extension for the stay of the state in Mps. As unfortunately we know well, given what happened to the Monte in the past, for this type of operation you need the right time. Banca Mps is a heritage not only of Siena, but of Italy. Draghi and Franco have the skills to speak with Europe and find solutions ". As for Unicredit, "I think that the main problem was that it was the only hypothesis, instead we had to at least look for other solutions, from the public company to the regional bank, just to name a few, also through the use of an independent advisor. government and politics play their part ".