How much will the bad bank of Mps cost to the State after the stew cooked by Unicredit

31 July 20213 years ago babelfish

First estimates for the charges to be borne by the State in the event that Unicredit's acquisition of the good part of Mps goes through. Facts, numbers and predictions

How much will MPS cost the State again – between direct and indirect interventions – if the stew of the Monte (without NPL and lawsuits) is really cooked at Unicredit with the agreement of the Ministry of Economy?

Insiders begin to hypothesize scenarios and even numbers.

The journalist of the Gedi group, expert in economics and finance, Carlotta Scozzari, has already made some estimates:

#Unicredit : if the #Mps disputes outside the acquisition are worth around 6 billion and non-performing loans also out of around 4, we are already at an implicit dowry of around 10 billion. Obviously all paid by the state.

– Carlotta Scozzari (@scarlots) July 30, 2021

Not really peanuts. Among other things, the Treasury in 2017, to arrive at the current structure, had put on the table 5.4 billion, of which 3.9 for the 64.2% stake which at yesterday's stock market prices is worth about 700 million, Il Sole 24 Ore stresses today.

Four years later, to give Mps in marriage to UniCredit, here is a new billionaire dowry: "The Dta, the tax credits eligible for capital, will amount to over 2 billion, an immediate benefit for UniCredit which, the Treasury points out, is accompanied by to the long-term one for the State, which will not see much higher tax credits recognized ”, adds Il Sole.

Then there are the 2 billion (of which 1.5 officially borne by the Mef) of the capital increase, sanctioned by yesterday's stress tests , which the public shareholder would still have to pay, even – and above all – in the event of a stand prospect. halo.

Then the burdens for the management of voluntary exits must be considered, up to 6 thousand fear the unions, and finally the lawsuits and NPLs, pieces of Monte dei Paschi di Siena that UniCcedit has already declared it does not want – preferring only succulent stews – and which will therefore remain with the current shareholders of the bank, first of all therefore with the Ministry of Economy and Finance.

In the end, the Confindustria newspaper estimates the total costs for the State with the Unicredit operation on Mps: a figure that varies between 5 and 10 billion euros.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/quanto-costera-allo-stato-la-bad-bank-di-mps-dopo-lo-spezzatino-cucinato-da-unicredit/ on Sat, 31 Jul 2021 06:24:34 +0000.