|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||10.76 - 10.85|
|52 Week Range||8.75 - 12.63|
|Beta (5Y Monthly)||1.69|
|PE Ratio (TTM)||9.63|
|Forward Dividend & Yield||0.77 (7.09%)|
|Ex-Dividend Date||Nov. 22, 2021|
|1y Target Est||N/A|
Mediobanca on Friday endorsed a request by its top shareholder Leonardo Del Vecchio to ditch a rule reserving up to three board seats to managers of the Italian merchant bank. Welcoming the decision "with deep satisfaction," Del Vecchio in turn withdrew a second proposal to amend the company's bylaws, which had been criticised by Mediobanca's board. Mediobanca also complained that Del Vecchio had failed to discuss with the company proposals he wanted to put to a shareholder vote at the Oct. 28 general meeting, disregarding what is considered standard practice for listed companies.
A power struggle at Italy's Mediobanca does not necessarily mean that Banca Mediolanum would sell its 3.3% stake in the merchant bank, Mediolanum's chief executive was quoted as saying. Billionaires Leonardo Del Vecchio and Francesco Gaetano Caltagirone have built up stakes in Mediobanca and have been at odds with Mediobanca CEO Alberto Nagel over strategy at Italy's top insurer Generali.
Power struggles at insurer Generali and Mediobanca have billionaires Leonardo Del Vecchio and Francesco Gaetano Caltagirone pitted against the CEOs of both groups. Del Vecchio, 86, Caltagirone, 78, clinched a shareholder pact in September to consult over decisions concerning Generali ahead of a general meeting in early 2022 to name a new board. They control a combined 12.5% stake in the insurer, after a third smaller investor recently joined their pact, and are opposing a third mandate for Generali's current CEO Philippe Donnet, who has the backing of Mediobanca.