Friday, October 10, 2014

Berlusconi loses the requirements of integrity, Fininvest sells more than 20 … – The Press

Berlusconi loses the requirements of integrity, Fininvest sells more than 20 … – The Press

 

Berlusconi loses the requirements of integrity, Fininvest yields more than 20% of Mediolanum

 

 Bank of Italy: the holding of Arcore must sell part that exceeds 9.9% of the capital of the bank led by Doris. The title falls. The hypothesis of the repurchase by the children

The transfer may also take place through the transfer of a portion of trust

 
  10/10/2014

 
 

After the loss of the integrity requirements by Silvio Berlusconi, the indirect parent company, Fininvest must divest Mediolanum in excess of 9.9%. This can also occur through the transfer into a trust. The measure was taken by the Bank of Italy: the share that must change hands far more than 20% of the share capital of the bank, since the holding of the Berlusconi family owns 31.1% of the group. Participation that must be disposed of voting rights are suspended and it is therefore dissolved the pact that binds to Fininvest Ennio Doris.

The Board of Directors of the family’s financial Berlusconi, said in a statement, will meet to assess the measure and to take the necessary measures, “even taking into account the characteristics and extent of the interest in the subject and the importance of Mediolanum SpA for the market, its customers and its shareholders. ”

Mediolanum “maintains and pursues its stable and well-established presence in the market” “strongest warranty and ongoing participation of the Doris family, which holds more than 40% of the shares,” the group wrote in a statement, and “will continue its activities in accordance with the strategies and principles that have characterized so far.”

According to analysts, the market share of 20% may in part be purchased by the other shareholder of reference of Mediolanum Ennio Doris, already owner of 40% or in part regained by other members of the Berlusconi family, primarily his five sons who have assets held in personal holdings. In Milan Mediolanum travels in the red: -3.80%.

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