The British group WPP, under agreements with inference, has brought its shareholding in the Milanese 11, 12%. Increasing the proportion is only the first step towards the English company to hold 22.4% of the capital after the increase from 20 million as it prepares to be launched. Meanwhile, the board of inference DNM convened for September 26 (29 / 9 in second) the Special Meeting to deliberate on the proposed capital increase of 656,250 euros, reserved Bipop-Carire. The latter will convert part of its line of credit, open to 25 million euros in shares savings with a particular mechanism.
The British retail giant has launched a bid for the remaining 45% interest (which does not have) the French Castorama for 5.1 billion euros. The group states that the figure represents a premium of 20% on courses Castorama emerge before heading on the transaction, which will be covered financially for 3.23 bln euro share issue and a line of credit with a bank for the rest . Castorama, up 4% at 67.05 euros, while Kingfisher has fallen by 2% to 377.75 pence.
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Not good news to come Sanpaolo-Imi. Following a disappointing quarter, analysts at Morgan Stanley lowered its rating on the institution of credit led by Rainer Masera bringing the proceedings from “neutral” to “underweight”. The investment bank also lowered its EPS estimates by 16% in 2002, 13% in 2003 and 10% in 2004. In the report the analysts to identify the title a fair price “stand alone” to 10.4 euros and 11.1 euros given 100% of cost synergies and 50% of revenue synergies from the merger with Banca Cardine. Morgan Stanley says that the main problem of Sanpaolo Imi is the volatility of revenues. Sanpaolo-Imi declining by 3.65% to 11.84 euros.
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Good start for Unicredito traveling in counter rising 0.89% to 4.77 euros. A sprint to the title of the institute led by Alessandro Profumo is the fact that it remains the favorite of experts in the Italian banking landscape. The target price of some major investment banks and then wander around 6 euro.
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a hostile bid on Mediobanca? For Alessandro Profumo is not “an event as possible.” With few words to. D. Unicredito (which Piazzetta Cuccia is the leading shareholder with a 9.5% together with Banca di Roma) has confined yesterday assumptions takeover on the institution in Milan.
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Dresdner Kleinwort Wasserstein confirms its adverse opinion on the Swedish Ericsson recommends relieves the position title, credited with a target price of 90 SEK. To analysts did not like the announcement of a new and ambitious plan of stock options. The title marks a decline of 0.93%, trading at 10.7 euros.
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Increases the number of issuers of covered warrants in Piazza Affari. In fact, after Unicredito, Citibank, Societe Generale, Cabot, Merrill Lynch, Sanpaolo-Imi, Comit, UBS, Dresdner and Deutsche Bank now is the time of BNP Paribas to debut as issuer. Short is scheduled to debut on the market for cw by other broadcasters including the Dutch bank ABN Amro.