Banca Mediolanum, Doris: “Mediobanca has proposed a merger but we are left alone”

Banca Mediolanum rejected a merger proposal advanced by Mediobanca. To present it Alberto Nagel, managing director of the institute in piazzetta Cuccia, to his counterpart, Massimo Doris. This was revealed by Doris himself, at a press conference to present the bank’s accounts for the first nine months. Nagel he had made me the proposal months ago, maybe more than a year ago. We spoke on the phone and he told me about it, “he explained.”I thanked him, I appreciated that sees Mediolanum as an ideal and important partner for Mediobanca, but
I explained to him that we intended to be alone“The merger between the two institutions is often hypothesized in the reports of financial analysts and Nagel himself has tried to test the ground.

In any case, Doris said she was satisfied with the management of Mediobanca, of which Banca Mediolanum is a shareholder with 3.3%. “We are shareholders, we are in the agreement and until Mediobanca it will give us satisfaction as shareholders for us it will be fine “, he explained that”we have no plans to purchase any more shares“of the institute.”No meeting“, then, with Leonardo Of the Old Man
And Francesco Gaetano Caltagirone, significant shareholders of Mediobanca, who have given life to a new consultation agreement.

Meanwhile, Banca Mediolanum closed the first nine months of 2021 with a Net income of 375.8 million euros, up 50% on an annual basis. The board also approved the distribution of a interim dividend 0.23 euros per share. There net inflows total was positive for 6.43 billion, 11% more than in the first nine months of 2020, while net managed deposits reached 4.63 billion, up 56%. With the target of € 8.5 billion in deposits for the whole of 2021 and of € 6 billion for managed deposits. In addition, the bank, which now has a stable assets over the 30 billion threshold, will become one of the significant banks in Europe from January 2022 “and we will therefore be supervised directly by ECB“, concluded Doris.