(Tiper Stock Exchange) – The merger between BPM and UniCredit still has strategic value. He supports it Fabrizio Palenzonawho yesterday was elected as the new president of the CRT Foundation, the foundation of banking origin which is the protagonist of some of the great games of Italian finance
“Twenty years ago then ad di UnicreditAlessandro Profumo, sent me to the president of bpm extension Bassi, to offer him a friendly tender offer in cash, at double the stock exchange prices at the time – he told Repubblica – Profumo’s idea was to strengthen Unicredit in Lombardywhere there was a deficit for the bank compared to other areas in Italy. Twenty years later, I understand that that deficit is still there, and therefore the strategic value of the operation remains”.
“Having said this, I know both Andrea Orcel and Giuseppe Castagna well, who are two very good managers and it’s up to them to decide the strategies of Unicredit and BPM, certainly not to the shareholder”, he added.
Palenzona took over from Giovanni Quaglia, who has led the CRT Foundation since 1 February 2017.
To a question about the plans for Mundys (formerly Atlantia), of which CRT has 5%, he replied: “In CRT we appreciate the strategic path that the president of Edizione Alessandro Benetton is pursuing at Mundys, which aims at internationalization, keeping its heart and head in Italy. We will work with Edizione and Blackstone to support the development of Mundys.”