Bpm – Banco Popolare, the members say yes, was Born the third polo – Milano Finanza

17. In the press conference Castagna thanked the members for attending the meeting and voting in favour of the merger.

16.10 pm In Milan wins the yes with 7.314 votes in favour on 10.198. Those opposed were of 2.731. The decisive 516 votes to achieve a quorum. Born the third-largest Italian bank.

At 15.35. Start the voting operations that will be apparent to a show of hands. The voters are 10.198 which 5.406 in.

15.10. You have to close the nearly 100 speeches of the members. Follow the short answers of Anolli and Chestnut. Voting is expected shortly for a show of hands.

14.30-attendance goes up again and touches record levels: these are 9.692, 5.098 in. On the stage the number of operations favorable to the merger exceeds that of the contrary.

14. It bounces in the assembly the news that the members of the Banco Popular voted a yes plebiscitario the merger (99.5% of present). In Milan you should vote after the 16. Continue without a break to the speakers on the stage.

13.30 members continue to pour into the pavilion of Rho. Short-term is expected to be a large group of shareholders from Foggia. For now, the appearances are 9.033 which 4.752 in. The votes are expected between a couple of hours. On the stage, follow the about 100 interventions.

12.15. Speak to the general secretaries of the two abbreviations most significant Bpm , Massimo Masi of the Uilca and Lando Sileoni of the Fabi. At the centre of the interventions in the defense of the merger, which is described as an operation where “you create value and jobs, not social disaster. We have to vote to believe yes to the merger for enhancing employees who, generation after generation, have made the Folk of Milan . If you won the no, the future would be a strong incognita,” said Sileoni. Following the intervention of Piero Lonardi, historical leader of the members who are not employees, defending the co-operative model.

11.40 am In the hall there are over 5,500 shareholders in person or by proxy. Speaks Edward Dorenti, the leader of the members, retirees, who invites the assembly to vote no in the name of a strategic project for a different face Bpm a unifying center. Contrary to the merger also Gigi Crampons, ex the deus ex machina of the electoral campaign of Piero Giarda.

10.45 am. Chestnut closes his speech with an appeal to the members of the Bpm : “it Is a jump when we ask you to look to the future and not the past, to look at the Italian banking system that has major problems and to which Bpm can give a hand to react to criticism more and more frequent,” said Castagna, who was greeted by a round of applause of the assembly. To follow Rossi has opened the interventions which will last between three and five minutes. The president has insisted on the respect of timing on the part of the members.

10.15 am Part of the shareholders ‘ meeting of Bpm . In the room in Rho Fair, there are 1.433 members, of whom 841 in his own right, 501 delegated and 91 in legal representation. The Works were opened by the chairman of the supervisory board, Nicola Rossi, who has, however, omitted all consideration of the object to the order of the day. In any case, Rossi has invited the shareholders to assess the main risk factors of the operation that may affect the activities of the parent company”. The merger has instead spoken positively to the chairman of the board of management, Mario Anolli, who stressed that the new status of the group protects the roots of the Bpm group . He then took the word of the ceo Giuseppe Castagna, who will lead the new group. In his long speech, accopagnato from the presentation slide, Castagna recalled the work of management made in recent years by the removal of the add-on to the signing of the memorandum of understanding with Banco Popular , passing through the promotion to the stress tests. Especially the banker has stressed the need of a merger as the only solution to push the profitability of the bank after the reform of popular.

9.00 am gather, this morning, the extraordinary shareholders ‘ meeting of Banco Popolare and the Popular Milan to give the green light to a merger and the simultaneous transformation in the spa. If the members of the group of verona met at Verona Fair, to the shareholders of Milan, the meeting is held at the pavilions of Rho-Pero, where is expected the turnout the most massive in the history of the institute. The 12.500 requests for participation should be expressed in 8/9 thousand visitors the actual, a figure higher than the record numbers of the general meeting of 2011 in which you were confronted Matteo Arpe and Andrea Bonomi. In particular, it should be a high participation of staff members with a membership rate close to 95% (about 7 thousand on a workforce of 7,700 in).

the Only item on the agenda is the merger with the establishment of a joint stock company called Tour Bpm . The approval will serve the two-thirds majority and the vote must be clear, as required by regulations for shareholders ‘ meetings of the two institutions. If Verona is not expected surprises, the attention is focused on the assembly of Piazza Meda, where in recent weeks there has been particularly lively in the opposition of the members, pensioners, organised in associations Lysippus and Pact Bpm . In favour of the merger are instead deployed with the decision of the trade unions of credit, on Wednesday reiterated in a press conference the reasons for the yes. The most difficult is the position of members who are not employees led by Piero Lonardi and investment funds, also in the light of the mechanism of the per-capita vote-which effectively sterilizes the large amounts of capital. (reproduction reserved)