Nagel: “Mediobanca interested in Banca Generali but not proactive”

Mediobanca might be interested in Banca Generalibut on the dossier it is not proactive and waits, if necessary, to be contacted by Generali. The CEO of the institute in piazzetta Cuccia, Alberto Nagelclarifies its position on the rumors of an interest in the asset management bank, 50.17% controlled by General, in turn 12.7% owned by Mediobanca. Indiscretions arising from the possibility that the insurance group sells its stake in Banca Generali to finance the possible acquisition of the US operator Guggenheim Partners.



In conference call with press agencies to present the accounts for the first quarter of the 2022-2022 financial year, Nagel explains that for Mediobanca’s wealth management division he is aiming for internal growth. “Today we are 100% focused on organic growth. All our energy today is based on organic growth that is more robust and consolidates our model from an industrial and financial point of view, leveraging the savings market in Italy and the uniqueness of our offer model “, underlines the manager. “Today we are not induced to deviate from this type of path”, which “is bearing important fruits which can be greater if we remain focused”.

Which does not mean not looking at mergers and acquisitions. “We are interested in looking at all the assets that in Italy can increase our distribution capacity in wealth management,” says Nagel. And, given Banca Generali’s “clear identification of ownership”, “we are more in a ‘wait and see’ phase rather than proactive. It must be something that comes from them rather than from us”. Therefore, if interested in selling its subsidiary, Generali must contact Mediobanca. “Since we know our potential interest, to the extent that there are interested parties we could be contacted. At that point we are available to talk about it, but we are not proactive to the extent that we are dealing with assets that have clear ownership and within of a strategy “.

On Leone, the CEO of the investment bank underlines that “he has always been in favor of development in its main businesses. Like Mediobanca, we have always been supporters and have always approved growth operations. We are convinced that if valid operations are carried out, value of the company, its size and also the resulting profit to Mediobanca can be improved “.



Source-www.adnkronos.com