What Copasir thinks about Del Vecchio, Mediobanca and Leonardo (with a slap from Volpi at M5S)
The president of Copasir, Volpi (Lega), indirectly reprimands the pentastellati for the attacks on Profumo di Leonardo and on Del Vecchio in Mediobanca and Generali changes his mind: everything is ok. Who knows if Nagel will be happy… Facts, names, words and reconstructions
"Generali, perhaps the first institutional investor of Treasury bills and therefore of sovereign debt, would thus be 'conditioned' by Del Vecchio whose companies are located in France and Luxembourg".
So spoke last June, in an interview with the newspaper la Repubblica , the president of Copasir, Raffaele Volpi.
The president of the Parliamentary Committee for the security of the Republic added to the newspaper directed by Maurizio Molinari: "One fact needs to be clarified: it is anomalous that Del Vecchio, who has always had industrial and productive activities, has thrown himself into the financial sector that is not never was its core business with such an important operation, up to 20 percent of Mediobanca. And then it is unthinkable that foreign-controlled institutions hold such large portions of sovereign debt: if they suddenly decided to sell our Bots immediately, the spread would have negative repercussions for us ”.
Five months pass, with some hearings of interested companies and personalities, and the opinion of the number one of the Parliamentary Committee changes. The result of the hearings? “At that time we were rightly afraid that there could be invasive and heterodirect actions towards an institution like Mediobanca which has an important stake in Generali. We wanted to verify that the heads of Italian banks and insurance companies that hold billions of sovereign debt and Treasury bills were looking in Italy and not outside ", Volpi told Formiche by Paolo Messa, a magazine very popular in Intelligence, in the first days of November. (Dis's director, Gennaro Vecchione, was revered as the guest of honor at the magazine's latest party, “ Washington's most popular publishing machine ” according to Dagospia 's account of Formiche 's party).
Volpi's conclusion: “Del Vecchio is a great Italian. And who, as an entrepreneur, has made choices that follow business logic ". Therefore, the owner of Luxottica is no longer a potential ally of the French in an anti-Italian key, snuck into the shareholding structure of Mediobanca and Assicurazioni Generali.
A judgment that certainly will not be too welcome to the top management of Mediobanca, given that the major shareholder of the Piazzetta Cuccia institute – i.e. Del Vecchio – did not vote in the recent meeting on the list orchestrated by Nagel for the renewal of the board of directors and, on the contrary, he supported the competing list (that of Assogestioni) and moreover criticized – by not voting – the remuneration of Mediobanca's top management, both of the chairman Renato Pagliaro and of the managing director Nagel.
The director of Copasir – as well as a leading exponent of the Lega di Matteo Salvini, moderate side – also spoke on Leonardo, the former Finmeccanica group chaired by Luciano Carta (which the government wanted in place of Gianni De Gennaro , who Conte imposed at the top of the Popolare di Bari also bypassing the Treasury; but evidently – bank insiders tell us – the past of the credit institution founded by the Jacobini family has also crossed areas close to the Services).
Volpi also explained why Copasir has sounded an alarm bell on Leonardo for the collapse of the stock on the stock market. There are two reasons: “The first is that we must defend our strategic companies to prevent hostile actors from taking advantage of a moment of vulnerability. The second concerns a suspect. I would not want some political actors to be able or willing to affect the stock market value of key companies. If as president of Copasir on open exchanges I publish a document asking the CEO of a listed company to resign, there would be repercussions. And maybe I would be accused of stock manipulation ”.
Volpi's implicit reference – with very heavy indirect accusations – is to a document by five-star parliamentarians. “The sentence of Alessandro Profumo referring to his past in Monte dei Paschi di Siena, even if at first instance, raises a question of expediency. Profumo should resign as soon as possible from his position as CEO in a public and strategic company such as Leonardo ”, M5S deputies of the House Finance Committee declared in a statement after Profumo's conviction for an MPS affair .
"Crimi received a phone call from Conte that he would like to place Arcuri in Leonardo", added Dagospia in recent days, while Di Maio focuses on Giovanni Giordo, formerly head of Finmeccanica's aeronautical sector.
In light of the sentence received, we expect Alessandro Profumo, in the interest of the company, to remit the mandate from Leonardo's CEO.
– 5 Star Movement (@ Mov5Stelle) October 16, 2020
The Copasir president scolded: “I'm just saying that there are politicians and influencers who, I want to think unconsciously, can become instruments of external speculation against our national champions. In the hours following the political fuss about Profumo, on various American sites dealing with the Stock Exchange, people were invited to short-sell Leonardo's securities ", Volpi also told Formiche by Paolo Messa, Leonardo's top manager, who has been waiting for months – after being torpedoed as director of Institutional Relations Italy – to go to the United States from next January – but there would still be no service communications or precise indications – as a sort of Leonardo's ambassador to the States, as foreshadowed in recent days on Sole 24 Hours from Gianni Dragoni.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/copasir-del-vecchio-mediobanca-e-leonardo-con-sberla-di-volpi-a-m5s/ on Wed, 04 Nov 2020 14:30:41 +0000.