Generali
Note: This is a daily stock update and the information stands true as of 31/03/25, 09:00 CET.
Company Update:
Expert Opinion:
The situation is almost impossible to assess for people not fully versed in Italian economic and political feuds. But Generali remains a very coveted asset and we expect there will be further buying pressure ahead of the AGM. The share price performance has been very strong. We believe a departure of Philippe Donnet wouldn’t be good for the company. We believe the risk reward profile of Generali is now less attractive and that the speculative component of it may fade after the AGM if the Del Vecchio and Caltagirone families achieve to split the board.
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Company Update:
Mediobanca notified the ECB that it was concerned that two of its top shareholders (Delfin and Caltagirone family) could gain control of Mediobanca, Generali and BMPS without proper regulatory approval. As a reminder, Generali is a 13.1% shareholder in Generali and is key in the vote of the board on April 24th.
The Del Vecchio family (Delfin) and Caltagirone family have been trying to overthrow Generali’s CEO Philippe Donnet for years and gaining control of Mediobanca would be a key step towards that goal. The bid by BMPS (9.8% owned by Delfin) on Mediobanca also complicates the situation.
In any case, the key event will be Generali ‘s AGM that will be held in Trieste on April 24th.
Expert Opinion:
The situation is almost impossible to assess for people not fully versed in Italian economic and political feuds. But Generali remains a very coveted asset and we expect there will be further buying pressure ahead of the AGM. The share price performance has been very strong. We believe a departure of Philippe Donnet wouldn’t be good for the company. We believe the risk reward profile of Generali is now less attractive and that the speculative component of it may fade after the AGM if the Del Vecchio and Caltagirone families achieve to split the board.
For daily updates, subscribe to our newsletter and for detailed information, reach out to us at sales@alphavalue.eu
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Alphavalue Morning Market Tip
Solid start of 2025 with signs of recovery in key markets.