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The entrance to the headquarters of Monte dei Paschi di Siena (MPS), the oldest bank in the world, in Siena, Italy, August 11, 2021. Rome failed to meet an initial EU deadline when talks to sell MPS to UniCredit (CRDI.MI) collapsed a year ago. One of the sources said UniCredit and Banco BPM are still seen in Rome as the best options for MPS. Investor commitments cover more than half of the up to 900 million euro portion of MPS's share sale that will not be funded by the state. Five years after spending 5.4 billion euros to rescue MPS Italy is having to pump another 1.6 billion euros into the bank.

☆ Credit Agricole, AXA to bid this week for Banco BPM's insurance deal-sources
▼ + stars: | 2022-10-18 | by ( Andrea Mandala | ) www.reuters.com time to read: +2 min

Credit Agricole has bought 9.2% of Banco BPM this year with a view to expanding their strategic partnerships beyond consumer finance. Insurance and asset management, which Banco BPM has put at the core of its profit strategy, are seen as the obvious candidates. Banco BPM, AXA, Credit Agricole and Generali all declined to comment. Banco BPM CEO Giuseppe Castagna recently said the bank was in no rush to select an insurance partner. In August Banco BPM had indicated it would take a decision by the end of the year.

☆ Monte dei Paschi kicks off 2.5 bln euro cash call
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 17 (Reuters) - Italy's Monte dei Paschi di Siena (BMPS.MI) launched on Monday a new share sale, its seventh in 14 years, seeking to raise up to 2.5 billion euros ($2.4 billion) to fund its latest turnaround plan. MPS, which is owned by the state following a 2017 bailout, is offering shareholders 374 new shares for each three shares owned at a price of 2 euros each. On Friday Italian market regulator Consob set the shares' reference price at 2.0630 euro each, stripping out a theoretical price for subscription rights of 7.8371 euros each. Register now for FREE unlimited access to Reuters.com RegisterThe stock rose sharply in early trade on Monday, triggering an automatic trading suspension. ($1 = 1.0290 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Valentina Za; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.

☆ Tricky Monte Paschi cash call comes at high cost
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

The fees amount to some 15% of the 857 million euros banks and fund Algebris have agreed to backstop. The fees in Saipem’s (SPMI.MI) 2 billion euro rights issue amounted to less than 5% of the amount banks had agreed to mop up. Monte Paschi says investors have committed 37 million euros and others say they will take up more than 50% of the 900 million euro portion of the rights issue reserved for private investors. That implies the banks may get stuck with some 400 million euros of unsold stock in a worst case scenario. Register now for FREE unlimited access to Reuters.com RegisterFor Monte Paschi, the cost of the rights issue will cut some 15 basis points off its Tier 1 capital ratio target of 14.2% for 2024.

☆ Monte dei Paschi to pay 125 million euros in fees for share sale
▼ + stars: | 2022-10-15 | by ( Valentina Za | ) www.reuters.com time to read: +3 min

MILAN, Oct 15 (Reuters) - Italy's Monte dei Paschi di Siena (MPS) (BMPS.MI) said a new share sale to raise up to 2.5 billion euros ($2.4 billion) would cost it 125 million euros in fees to financial institutions backstopping the issue. Register now for FREE unlimited access to Reuters.com RegisterAfter difficult negotiations that risked derailing the capital raising, the eight banks have agreed to guarantee the share issue for up to 807 million euros. Algebris is backstopping up to another 50 million euros. The fees amount to nearly 15% of the guaranteed sum and compare with a market value of just 99.8 million euros for MPS on Friday. The cost of the capital increase, which totals 132 million euros, would shave 15 basis points off that target, MPS said.

☆ Monte dei Paschi to pay 125 mln euros in fees for share sale
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

MILAN, Oct 14 (Reuters) - Italy's Monte dei Paschi di Siena (BMPS.MI) said a new share sale to raise up to 2.5 billion euros ($2.4 billion) would cost it 132 million euros, mostly due to fees paid to financial institutions backstopping the issue. Monte dei Paschi said it was set to pay 125 million euros in fees to a group of eight banks led by global coordinators Bank of America (BAC.N), Citigroup (C.N), Credit Suisse (CSGN.S) and Mediobanca (MDBI.MI), plus London-based fund Algebris. ($1 = 1.0263 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Valentina Za, editing Gianluca SemeraroOur Standards: The Thomson Reuters Trust Principles.

Up to 200 million euros of the capital will come from France's AXA (AXAF.PA), MPS' partner in an insurance joint-venture. Another 50 million euros are being guaranteed by London-based fund Algebris, whose founder Davide Serra is a close associate of Lovaglio. The state will put in 1.6 billion euros towards the capital raising, based on its 64% stake. Local banking foundations in Tuscany - charitable organisations overseen by Italy's Treasury - have already put in some 30 million euros. After its market value shrunk to just 256 million euros, MPS will sell the new shares with a discount of only 8.6% over Wednesday's closing price stripped of subscription rights.

Another 50 million euros are being guaranteed by London-based fund Algebris, whose founder Davide Serra is a close associate of Lovaglio. The state will put in 1.6 billion euros towards the capital raising, based on its 64% stake. If MPS gathers less than the maximum 2.5 billion euros, the state's contribution will be proportionally reduced so as not to exceed 64% of the total. At least 100 million euros will come from France's AXA (AXAF.PA), MPS' partner in an insurance joint-venture. After its market value shrunk to just 256 million euros, MPS will sell the new shares with a discount of just 8.6% over Wednesday's closing price stripped of subscription rights.

By late on Wednesday six banks, including global coordinators Bank of America (BAC.N), Citigroup (C.N), Credit Suisse (CSGN.S) and Mediobanca (MDBI.MI), had signed the guarantee contract, the sources said. Five years after an 8.2 billion euro ($8 billion) bailout that handed the state its 64% stake, MPS plans to raise the extra cash to lay off staff and bolster capital. The eight banks due to underwrite the MPS issue are willing to backstop only a third of the 900 million euro private portion of the capital raising, one of the sources said. MPS CEO Luigi Lovaglio had until recently not produced the written commitments, triggering a race in the last few days to get all the necessary documents signed. The Tuscan bank has so far secured support from its insurance partner AXA (AXAF.PA), local banking foundations and asset manager Anima Holding (ANIM.MI).

Five years after an 8.2 billion euro ($8 billion) bailout that handed the state its 64% stake, MPS plans to raise the extra cash to lay off staff and bolster capital. They have demanded written commitments from investors for an amount roughly equivalent to half the overall figure, accepting pledges which are not in writing for the rest to get to two thirds of the total, the source added. MPS CEO Luigi Lovaglio had until recently not produced the written commitments, triggering a race in the last few days to get all the necessary documents signed. MPS and the banks expect to be able to get to a deal on the underwriting contract later on Wednesday, although sources had previously not ruled out preparations taking until Thursday. A January 2030 bond yielded 41.42% after spiking to 45.44% from 39.95% at closing on Tuesday.

☆ Russian regulator says mobile operator MTS breached anti-monopoly laws
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

Prices for most goods and services rose sharply soon after Russia sent thousands of troops into Ukraine in February, sparking hefty Western sanctions. The Federal Antimonopoly Service (FAS) said MTS would have to lower prices to economically justified levels and pay a fine, the size of which would be determined after an investigation. "The adjustment of tariffs took into account the growth in costs of servicing telecoms infrastructure, which exceeds the growth of telecoms service revenues," MTS said in a statement. "In August, September and October 2022, MTS again raised the cost for these tariff plans," the FAS said. The FAS said MTS had not provided enough evidence of its costs.

MPS (BMPS.MI) had scheduled a board meeting on Tuesday to set the terms of an up to 2.5 billion euros ($2.4 billion) share issue, the Tuscan bank's seventh in 14 years after an 8.2 billion euro bailout in 2017. Rocky markets and the size of the cash call, equivalent to more than 10 times MPS' current market value, have complicated talks over the share sale. The banks have long seen it as too risky to bring to the market without a pre-committed core of investors. The new shares will value MPS above healthier peers, exposing underwriters to likely losses on any shares left on their books, bankers and analysts say. On Tuesday, a source with knowledge of the matter told Reuters that MPS had secured some 30 million euros ($29 million) from local not-for-profit banking foundations in its home region.

☆ Monte dei Paschi to get some $29 mln from local banking foundations - source
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy, August 16, 2018. REUTERS/Max Rossi/File PhotoFLORENCE, Italy, Oct 11 (Reuters) - Monte dei Paschi di Siena (BMPS.MI) is set to get around 30 million euros ($29 million) for its new share issue from local banking foundations, including the Tuscan bank's former top shareholder, a source with knowledge of the matter said. In some cases, including that of the Fondazione Monte dei Paschi di Siena, they have seen their fortunes wiped out by the demise of the banks they owned. A fourth banking foundation, Cassa di Risparmio di Pistoia e Pescia (CariPistoia), has not yet taken a decision on a possible 3 million euro contribution, the source added. The chairman of CariPistoia had told Reuters the foundation was not interested in investing in Monte dei Paschi.

Typically, banks would sell the debt to investors and pocket an underwriting fee. Elon Musk vs TwitterThe debate, currently a topic of conversation among investment bankers and debt investors, provides a window into the havoc wreaked on Wall Street by Musk’s U-turn last week. Musk, however, conditioned his proposal on his ability to secure debt financing and now has until Oct. 28 to close on the transaction. VARIOUS OPTIONSThe debt financing package is comprised of leveraged loans, which are risky because of the amount of debt the company is taking on, as well as secured and unsecured bonds. In September, banks financing the Citrix buyout undertook a similar restructuring.

☆ Italy's Caript has no plans to invest in Monte dei Paschi, chairman tells Reuters
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

FLORENCE, Italy, Sept 28 (Reuters) - Italy's Fondazione Cassa di Risparmio di Pistoia e Pescia (Caript) has no plans to invest in an upcoming new share sale at state-owned bank Monte dei Paschi di Siena (BMPS.MI), the chairman of the not-for-profit banking foundation told Reuters. "As far as Caript is concerned, an investment in Monte dei Paschi is not on the agenda," Chairman Lorenzo Zogheri told Reuters. Italian daily Il Sole 24 Ore reported on Wednesday Italy's Treasury had sounded out banking foundations, long-standing investors in the country's lenders, as Monte dei Paschi struggles to secure support from private investors amid tough markets. The report said Tuscan foundations such as Caript were top of the list. Register now for FREE unlimited access to Reuters.com RegisterReporting by Silvia Ognibene, writing by Valentina Za, editing by Maria Pia QuagliaOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Companies potentially affected by Italy's election
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +5 min

A woman walks at a polling station during the snap election in Rome, Italy September 25, 2022. read moreHere is a list of companies that could be affected by the outcome of the election. The change of government and calls by Meloni to revisit Italy's national recovery plan could threaten Italy's ability to meet the commitments to which European Union post-pandemic funds are tied. Brothers of Italy welcomed CDP's decision to wait for the election before filing its non-binding bid for TIM's network. read moreBrothers of Italy has called for the new government to be allowed to make a final decision on ITA.

Diamonds are pictured during an official presentation by diamond producer Alrosa in Moscow, Russia Ferbuary 13, 2019. Poland, Ireland, Lithuania, Estonia and Latvia proposed introducing a retaliatory ban on imports of diamonds from Russia, where Alrosa (ALRS.MM) is the world's largest producer of rough gems. Belgium's foreign ministry and the diplomatic representation to the EU did not respond to requests for comment. An EU official and a diplomat involved in preparations of new measures against Russia said, however, that Belgium was now expected to lift its veto. Register now for FREE unlimited access to Reuters.com RegisterWriting by Gabriela Baczynska; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy August 16, 2018. Closer ties could hamper MPS' future search for a merger partner as the state seeks to cut its 64% stake. The banks organising the stock issue, however, have long seen the need for cornerstone investors, sources had previously said. Anima could contribute up to 250 million euros towards MPS' capital raise, when including an upfront payment for the improved partnership terms, a source had previously said. The state is allowed to cover 64% of MPS' capital raise based on the size of the stake it acquired after a 2017 bailout.

☆ A Salt Lake City Couple Built a Second Home Next Door. Soon It Became Their First.
▼ + stars: | 2022-09-19 | by ( Nancy Keates | ) www.wsj.com time to read: 1 min

Side by side, on a quiet street on a mountain ridge high up above Salt Lake City, sit two homes that are at once similar and yet completely different. “It’s the culmination of a whole lifetime,” says Cynthia Strike Petrow about the two homes.Ms. Petrow, a 68-year-old musician and Pilates teacher, grew up in the traditional house, which she still owns with her three siblings. It serves as a gathering space for holidays for the extended family.

One of the sources said the bid could be announced before Saturday, as the two partners rush for taking the Italian infrastructure group private after an unsolicited approach by a consortium led by Global Infrastructure Partners (GIP) and Brookfield. Benettons' holding company Edizione, which controls Atlantia with a 33% stake, and Blackstone are expected to set up a new company that will launch the offer for the infrastructure group, the sources said. In March, GIP, Brookfield and Spain's ACS (ACS.MC) approached the Benettons with a proposal to buy the infrastructure group, they said last week. "Edizione and Blackstone are not currently discussing any plan to involve GIP and Brookfield in their bid," one of the sources said. CRT declined to comment; GIC, Global Infrastructure Partners and Brookfield was not immediately available to comment.

În primul rând – a spus el – PD a abordat campania electorală în calitate de partid parlamentar. „Este important ca un partid să se prezinte în fața alegătorilor de pe pozițiile unei forțe familiarizate cu mecanismele parlamentare, capabile să explice oamenilor scopurile ce urmează să fie atinse în legislativ. Pe de altă parte, în percepțiile cetățenilor candidații unui asemenea partid beneficiază de o credibilitate care nu mai trebuie probată”, a declarat menționat Catană. În al doilea rând – a precizat expertul – PD este în mod tradițional un partid cu organizare solidă, indiferent de modul în care au oscilat rezultatele în alegeri. „În condițiile în care un procent, două sau trei pot fi decisive, factorul organizare are o importanță covârșitoare și ajută partidul să-și mobilizeze alegătorii”, a notat el în materialul publicat pe politics.md.

Persons: politics.md, Catană, Maia Sandu Organizations: PD Locations: PLDM

☆ Как 11-летний мальчик собрал за год 500 тыс. фунтов
▼ + stars: | 2021-07-07 | by ( Mld Media Srl | ) noi.md time to read: +2 min

Одиннадцатилетний Макс Вузи из Девона, Великобритания, больше года спит на улице, чтобы собрать деньги на благотворительность, и говорит, что не намерен останавливаться на достигнутом. По данным Daily Mail, ребенок начал жить в палатке в саду за домом в марте прошлого года. У мальчика большие планы, он собирается продолжать жить в палатке, чтобы собрать как можно больше денег. Мероприятие, организованное Action for Children и вдохновленное усилиями Макса, побудит детей спать в необычных местах, чтобы собрать деньги для молодых людей, пострадавших от пандемии. Мальчик начал жить в палатке в начале первого карантина, вызванного коронавирусом, и признался, что иногда даже «плакал перед сном», «потому что все его снаряжение было мокрым».

Persons: SafeNews.md, Макс Вузи, Макс, Рике, Рэйчел Вузи Organizations: Daily Mail, Лондонский зоопарк Locations: Regent’s, Девон, Великобритания, Северный Девон, Северная Америка, Сингапур

(video) Noul videoclip al lui Egor Kreed a fost creat de regizorul moldovean Nichita VilcinschiAstăzi, a fost publicat noul videoclip al interpretului rus Egor Kreed „Telefon”. Creatorul acestei producții video este moldoveanul Nichita Vilcinschi. „Este primul videoclip al lui Kreed în care el nu a participat în crearea scenariului sub nicio formă. Videoclipul povestește istoria unui tânăr care a rămas cu inima zdrobită după despărțire”, a povestit Nichita pentru locals.md. În acest timp el a reușit să colaboreze cu așa artiști și artiste precum Malbec și Susana, Liza Gromova și alți artiști.

Persons: Egor Kreed, Nichita Vilcinschi, Egor, Nichita, locals.md, Susana, Liza Gromova Locations: Moscova

Apelul a fost înregistrat ieri seara, în jurul orelor 22:40. Ambii șoferii, au căzut cu automobilele în groapa de reparația a unui pod. În urma accidentului, șoferul în vârstă de 46 ani și doi pasageri cu vârstă de 17 ani, ambii locuitori ai or.Leova, au fost transportați la Spitalul raional Hîncești, pentru îngrijire medicală. Șoferul Peugeot-ului și pasagerul nu au avut de suferit în urma accidentului. Verificați cu Drager, testul a arătat 0,00 mg/l alcool în aerul expirat, pentru ambii șoferi.

Persons: Verificați Organizations: Opel Astra, Peugeot Locations: or.Leova, Hîncești

În opinia sa, PD și Platforma DA vor miza pe experiența lor politică bogată. „Ultimele sondaje arată că au un procent mai mic decât Partidul „Șor” și Blocul „Renato Usatîi”, însă sunt în marja de eroare de a trece în Parlament și pot provoca surprize”, a declarat el. Expertul a remarcat că PD va miza în mare parte pe relațiile sale în teritoriu, or, în pofida faptului că formațiunea a fost divizată, are un procent mare de recunoaștere. „Iar faptul că după plecarea de la guvernare în 2019 mesajele de învinuire făcute de PAS și prim-ministrul Maia Sandu în adresa acestei formațiuni nu s-au demonstrat, pot provoca vot de protest”, a adăugat el, în editorialul de pe politics.md. Ilașciuc a mai spus că, PD – condus de Pavel Filip, la fel ca și Platforma DA – partid condus de Andrei Năstase, „vor juca în mare parte pe electorat dezamăgit în activitatea PAS și a președintelui țării.”

Persons: Renato Usatîi, Maia Sandu, Pavel Filip, Andrei Năstase Organizations: PD

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