|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||9.88 - 10.03|
|52 Week Range||8.12 - 12.63|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||8.92|
|Forward Dividend & Yield||0.75 (7.44%)|
|Ex-Dividend Date||Nov 22, 2021|
|1y Target Est||N/A|
Mediobanca's stake in Generali is down to just under 13% after the investment bank returned shares it had borrowed to have a greater say at a shareholder meeting of the insurer last month, a regulatory filing showed on Wednesday. The bank had borrowed shares in Italy's biggest insurer to reach a 17.2% voting stake at the annual general meeting (AGM) where Mediobanca-backed CEO Philippe Donnet was elected for a third term, surviving a challenge from rebel domestic investors who were calling for a change at Generali. The vote followed months of bitter infighting at the heart of Europe's third-largest insurer with investor Francesco Gaetano Caltagirone, backed by his fellow billionaire Leonardo Del Vecchio, pushing to appoint new top executives to pursue their own plan for faster growth and more acquisitions.
The European Central Bank (ECB) has told Italian entrepreneur Leonardo Del Vecchio that "at current conditions" his holding company cannot hold a stake of more than 20% in Mediobanca, a newspaper reported on Wednesday. The central bank has told Del Vecchio that in order to exceed the 20% threshold, his holding company, Delfin, must be transformed into a bank holding, Milano Finanza reported without citing sources.
MILAN (Reuters) -Mediobanca on Wednesday ruled out the prospect of a wealth management acquisition in the immediate future, after reporting higher than expected quarterly results thanks to contributions from all its business segments. Under Chief Executive Albert Nagel, the Italian financial services group has moved away from its traditional role as an investor in major Italian companies in favour of boosting its wealth management and consumer finance businesses. To grow Mediobanca's wealth management operations, Nagel in 2020 considered swapping the group's 13% stake in insurer Generali with private banking unit Banca Generali.