(Finance) – The actions of the Banco BPM on the stock exchange for the no of the ECB to “Danish Compromise” On the Opa launched For Soul. Financial sources, in fact, anticipate that European vigilance would be negatively expressed regarding the application of the property benefit known as “Danish Compromise”, a condition necessary for the success of the offerwhich is based on an industrial assumption and also on an incentive of a regulatory nature.
The ECB decision, not only puts the counter offer into play for the Milanese Sgr, but also conditions the exchange of exchange advanced by Unicredit For Banco Bpm. Tomorrow a Banco Bpm board has been summoned, right on the day it is convened the UniCredit assembly, who had already ventilated the possibility of withdrawing his offer, conditioning it to the green light of the supervisory authority.
Meanwhile, the actions of Banco Bpm collapse on the stock exchange, reaching on the bottom of the FTSE MIB basket with ato loss of 5.53%while Unicredit records a drop of 0.83%, in line with the weak performance of the banking sector. Animla Holdoing Lima instead 0.29%.
The Danish Compromise is an accounting rule that dates back to 2012, incorporated into the rules of Basel, which guarantees an incentive to the acquisitions made by banks through insurance subsidiaries. Nel case in particular, the offer would have been launched by the counter through the subsidiary Banco Bpm Vita insurance. But the supervision of the ECB would have already expressed itself against an extended interpretation of the standard.
Naturally, The whole game of bank risk depends on this decisionsince the yes to Danish Compromise is binding condition of Opa on Soul. In turn, even Unicredit, whose assembly will have to approve the capital increase at the OPS on Banco BPM tomorrow, could give up on carrying out the project, according to what was specified some time ago by the bank of Piazza Gae Aulenti.