Leonardo Del Vecchio
For Mauro D’Attis, MP of Forza Italia and member of the Budget Committee of Montecitorio, instead the “Assicurazioni Generali control may end up in foreign hands through the operation put in place by Del Vecchio“. Hence the presentation of urgent interpellation to the Government that Affaritaliani.it public.
On November 13, however, after the presentation of the industrial plan of Mediobanca and after its rise by a whisker from 10%, the owner of Delfin had broken the silence on his blitz in Piazzetta Cuccia speaking of an operation in defense of the “stability” of Mediobanca and Generali, as national enterprises that must “grow and be successful in the world”. How come then this alarm? Affaritaliani.it the blue deputy asked.
In your opinion, through Del Vecchio’s rise to 20% of Mediobanca’s capital, can the control of Assicurazioni Generali end up in foreign hands?
“It’s almost mathematical.”
But is Del Vecchio an Italian entrepreneur?
“But the companies are all Luxembourgish. The interest is French, to create a partnership with Axa.”
But on November 13, 2019, in motivating his huge purchases of Mediobanca shares, Del Vecchio, regarding the merchant bank and the insurance company, explained that they are companies that “represent a strategic piece of our economic system and need stability. My goal is to help create a stable shareholder base that helps companies to grow and succeed in the world. We need investors and entrepreneurs who are able to develop their businesses. I am an Italian entrepreneur and my path has testified, for sixty years and with concrete facts, my love and attachment to this country. It is with this spirit that, supported by my family, I decided to make this investment in a sector in which Italy must play a leading role “. In short, they do not seem to aim French…
“France has something to do with it because Delfin is Luxembourgish. In a parliamentary question dated 28 October last year, I explained what could happen with Del Vecchio. The entrepreneur, as he has always said, sees a future of partnership with Axa for Generali. In addition, with a merger in 2018 he tied his Luxottica to the French Essilor and then moved to buy Mediobanca shares with the transalpine investment bank Natixis. Del Vecchio aside, then in the shareholding of the merchant bank there is nothing Italian in fact. The operation is dangerous. Copasir is also taking care of this and the committee for the golden power. Not by chance”.
Among the Italians with significant shares, however, there are Mediolanum a 3.8%, the Benettons with a 2.1% and Fininvest with a 2% …
“Yes, but also Vincent Bollorè with 5.7% and BlackRock with 4.9%”.
But sorry, the Delfin holding is Luxembourg for purely fiscal reasons. He does not believe?
“Last year, French-led UniCredit suddenly sold its stake in Mediobanca to allow Del Vecchio to climb. It is evident that a climb is underway. It is absolutely not improbable that there is a foreign interest in Italian assets, among which the Generali “.
UniCredit is one public company who decided to sell the stake in Piazzetta Cuccia because the union pact was dissolved and was classified as a non-strategic financial participation …
“However, in order to influence Mediobanca and Generali, the shares end up in the same area of influence. Generali is in fact directly and indirectly controlled by Del Vecchio. It is evident that theasset of interest is the insurance company. ”