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Borsa Italiana, the commentary on today’s session (April 14, 2022)


The main European stock exchanges are in positive territory after the meeting of the ECB board. In Milan, eyes on Atlantia after the launch of the Schemaquarantatrè takeover bid

The main European stock exchanges are in positive territory after the meeting of the ECB board. In Milan, eyes on Atlantia after the launch of the Schemaquarantatrè takeover bid.

In view of the closure the FTSEMib rose by 0.68% to 24,890 points while the All Share increased by 0.67%. Mid Cap (+ 0.64%) and Star (+ 0.06%) were also positive.

The ECB has meanwhile communicated its monetary policy decisions. As expected, interest rates remained unchanged; the reference rate remained stable at 0%, the deposit rate was confirmed at -0.5% and the marginal loan rate at 0.25%. Following the usual press conference by Christine Lagarde.

In Piazza Affari well Atlantia (+ 4.34%). Schemaquarantatrè took the decision to launch a voluntary takeover bid aimed at acquiring all the outstanding ordinary shares of the holding. The purpose of Schemaquarantatrè is to revoke the listing of the Shares from Euronext Milan, i.e. to proceed with the delisting. The bidder will pay a consideration equal to 23 euros for each share tendered in acceptance of the offer, a consideration that incorporates a premium equal to 5.3% compared to the official price of the shares as at 13 April.

On the rise ENI (+ 0.58 %%), which has formed a framework agreement with Egypt’s EGAS that will allow for the maximization of gas production and exports of liquefied natural gas (LNG). The Six-legged Dog specified that the agreement aims to promote the export of Egyptian gas to Europe, and in particular to Italy, in the context of the transition to a low-carbon economy.

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Positive for the bankers Intesa Sanpaolo (+1,74%) e Unicredit (+1,37%).

Sales on Telecom Italia (-0.63%). The group reached an agreement with Ardian, a world-leading private investment company, for the acquisition by a consortium led by Ardian of a 41% stake held by TIM in the holding company Daphne 3, which it currently holds in its own right. once a 30.2% stake in INWIT, Italian Wireless Infrastructures. Upon completion of the transaction, the Ardian-led consortium will hold a 90% stake in Daphne 3. The agreement reached is based on a valorisation of the INWIT share equal to 10.75 euros (cum dividend), and corresponds to a collection for TIM of approximately € 1.3 billion, in addition to the repayment of the loan for approximately € 200 million, granted by TIM at the time of the initial acquisition in 2020. The agreements have been structured so as not to give rise to any obligation to make a takeover bid (takeover bid).

In decline Brunello Cucinelli (-1.42%), which communicated the trend in net revenues for the first quarter of 2022. In the period in question, the turnover was equal to 196.94 million euros, up by 19.6% compared to to the 164.61 million obtained in the first three months of last year, thanks to the strong increase recorded in the Americas (+ 37.7%); at constant exchange rates, the increase would have been 16.7%.


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