Mediobanca, Del Vecchio is aiming for 20%. The institute: central independence

The owner of Luxottica Leonardo Del Vecchio aims to become the reference shareholder of Mediobanca. The 85-year-old businessman from Veneto – at the top of the Italian ranking for personal assets and industrial and financial activities – is already a shareholder with a share of almost 9% of the historic investment bank which, in turn, holds about 13% of the General Insurance. According to the reconstruction of the newspaper La Repubblica, Del Vecchio would have already submitted a request to the European Central Bank to be able to go up to 20% of the institute once chaired by Enrico Cuccia and today led by Alberto Nagel. The file for the Supervisory authorization was presented on Friday, which has 90 days to evaluate the dossier.

A project launched in recent months with the gradual increase in the stake in the Piazzetta Cuccia bank. In the intentions declared by Del Vecchio there is the idea of ​​defending the financial group, which first partner of the Lion of Trieste, from any foreign attacks. The Mediobanca group after a long history of union agreements (within which it has never had more than 10% of the capital for anyone) has repeatedly stressed that it has become a public company. And he points out that he has never had a single shareholder over 10 percent since its foundation precisely to guarantee the independence of the investment bank. Del Vecchio has strengthened its share also thanks to the gradual departure of the French Vincent Bollor and Unicredit. No bank in Europe, it is noted in Piazzetta Cuccia, added entrepreneur in the shareholding structure above 10% of the capital. And out of 127 credit groups, only 4 have founding families. According to what is learned, the owner of Luxottica has no intention of presenting an alternative list for the board of directors in October.