“The State will have about 70 percent” of the capital of Mps. He said the president of the Mps, Alessandro Falciai, in the course of a hearing on the decree, save, saving in front of the Finance Committee of the house and Senate. Falciai has explained to parliamentarians how will the shareholder structure post-entry to the State: “We have about 4 billion euros of bonds that will be converted and the rest will be taken by the State. It Was through this mechanism of conversion at the end will invest about 6 billion, so we will have a shareholder structure that basically has the ‘institutional’ for a couple of billion and the State $ 6 billion”. Then, he conc luded, “the State will have about 70 percent of the institutional while the ‘retail’ on a voluntary basis will be able to convert in and out”.
” The new restructuring plan of Monte dei Paschi, which will be launched after the negotiation between the ministry of Economy and the Directorate-general for Competitiveness of the Eu Commission, taking into account the weight loss cure already made by Siena with the previous restructuring authorised by Brussels, that following the signing of the Monti Bonds, which technically is still ongoing until the end of this year”. Is as still it is hoped Falciai, in the course of the hearing before the Finance Committees of both the house and Senate. The plan has placed various posts in the bank. “For example the total asset of the bank prior to restructuring were 240 billion, today we are at 160 billion, and the balance sheet of the bank has dried up to 30%, almost one-third”. Falciai adds that the Mps “has already done a lot and we would like this to be the point of reference for the negotiation with the Eu, we hope that the plan does not deviate from what we have already presented”
real estate agents, football, and the ship-owner: the other big debtors of the Mps
Morelli: lens return soon to the strong position
“In the renegotiation of the plan we aim to that the outcome will be that you can put the bank in a position to be able to work and restore what was, before the last few months, a trading position is very strong, despite everything that has happened,” said the ceo of Upstream, Marco Morelli. Among the objectives of the management remains, “the sale of the sufferings in the block” and start again “without any penalization of the work force in its different divisions,” explained Morelli, below, always in the Senate hearing, answering questions from parliamentarians. Morelli remembers that there was “an outflow very important” deposits which then “completely stopped the last few days of the year and the first of January. And again, speaking of the rescue explained that “Jp Morgan, Mediobanca and all the banks in the consortium of the placement have not taken a sin gle euro and will not take a €” because the market operation to strengthen the equity of the Mps is not successful. he said Morelli.
Here is the list of largest insolvent debtors Mps
The Siena has spoken then of the prospects of the bank after the reorganization: “The rest if I reduce the salary? Yes, absolutely. I honour the commitment, because I believe that the revival of the bank is possible.” The to of the Mountain, he added, “it is not up to me to define the salary that I have, I prefer that I be reduced to the salary in a very heavy, but that is protected to the figures of the management, which for the bank are important, and that if the bank were to lose that would give perspective to the next shareholder”.
“Immediately after the request of the recapitalisation, he added,” as a precautionary on the part of the bank I said to the minister that my term of office was at his disposal, without any type of cost for the bank”. This “confirming my commitment so it is appropriate that the person who has made a commitment with the board of directors should comply with it, without taking into account the outcome of the operation of the market.”
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