(Finance) – The proxy advisor ISSin view of the Assembly of April 17 of Banca Monte dei Paschi di Siena (MPS), gave indication to the shareholders of the Sienese Institute of vote against the capital increase in the service of the public exchange offer (OPS) on Mediobanca.
“The bank is doing aOffer for a larger institute, without having access to the Due Diligence, without a final price And without the certainty of the closure of the operation – reads the voting recommendation – even if you could get control, post -fusion integration could prove to be a challenge, and the different profile and the different corporate culture could significantly affect the potential of synergy. The achievement of the control would probably lead to the payment of a higher, still unknown price “.
“For MPS, considering that its actions are not apparently assessed by the market, any increase in the consideration of the offer would entail the Transfer of a larger part of the synergies to the shareholders of Mediobanca – adds ISS – On the basis of these considerations, it is recommended to vote against the capital increase at the service of the offer “.