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This article was published March 17, 2016 at 09:11 hours.
the last change is the March 17, 2016 at 10:16.
a single plank to bring Andrea Bonomi in the chair as chairman of the Supervisory Board of Banca Popolare Milan. This is the design they are working on some of the largest national trade unions in view of the renewal of the CDS, scheduled for April, on failure of the merger between BPM and Banco Popolare. While the aggregation between Milan and Verona is increasingly uphill after considering the resistance of the ECB, among the various stakeholders of the Milan bank we are reinforcing the idea that the Lombard bank should maintain its autonomy, perhaps around the figure of an institutional investor weight. The main objective is to proceed in the future to do anything that might see Milan in the role of an aggregating. Why in the social body of Piazza Meda it has made the idea of reactivating contacts with the Milanese financier, owner of Investindustrial fund, which for three years has been the main investor of the group, as well as president of Roissy, before the dated January 2014.
Apparently, Bonomi has been “probed” in recent days by some of the major stakeholders of the bank in Milan, including some unions and the association of pensioners to check its readiness in principle . At these first meetings, they would have allowed us to verify a consensus around his candidacy instead of the current president, Piero Giarda, more will be added now others in the coming days are expected in fact private meetings between it and the main financier souls the bank to check each other’s similarities and withdraw reservations. Bonomi the rest of today would not yet taken any decision with respect to accession to the project, nor one way nor the other.
The timing of the rest are tight. The deadline for the submission of lists is set for April 5. But in the coming days should clarify their positions. The national unions are meeting next week to define a common line. The intention is to converge in a unified way in supporting the Milanese financier, even if the positions are not entirely unique. Difficult on the other hand that Bonomi agree to sit at the Security Summit without there being a cohesive support around him. Also because the one in Bpmsarebbe a return far from obvious, given the past turbulent to say the least. In 2013, the then President of the Management Board was seen in two different assemblies reject the proposals (introduction of remote voting and the transformation of the bank in Spa,) by the same shareholders-employees and internal trade unions. A double blow that accomplices internal rebelliousness, Bonomi forced to gradually reduce its commitment in Piazza Meda.
Today, however, the scenario is different. The transformation of the popular bank in Spa is a legal obligation, and will take place later this year. Once you abandoned the one-vote, the risks that the bank will be subject to takeover bids, given the fragmentation of ownership, are anything but hypothetical. For this internal bodies in Meda Square have again turned to the man who had proposed moving to the Spa temperandola with some formulas to members, such as the distribution of shares, profit-sharing and development of corporate welfare. Proposals that could now return current.
On the other hand, Bonomi would look to an eventual return to Piazza Meda only upon certain conditions. The first of which is the non-celebration of the marriage between the Lombard bank and Banco, do not look kindly. Possible, then, that the entry into CDS to take place without there being a substantial previous investment in the bank’s capital, which instead could be behind the transformation in Spa. At that point, Bonomi could point to preserve the independence the bank, perhaps favoring combination transactions from a position of strength. Remains to be seen in perspective, what could be the relationship with the current CEO of the group, Giuseppe Castagna, acknowledged author of the revival of the banking group and proponent of the merger with Banco.
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