Latest news with #GianlucaSemeraro
Reuters
08-05-2025
- Business
- Reuters
Prysmian core profit rose 28% in first quarter on Encore Wire's acquisition
The world's largest cable maker said in a statement its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at 527 million euros in the January-March period, slightly above a company-provided analyst consensus for a 510 million euro result. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Advertisement · Scroll to continue Report This Ad Adjusted EBITDA's organic growth in the quarter was 5%, the company said, adding it was confirming its forecasts for full-year results Reporting by Giulio Piovaccari, editing by Gianluca Semeraro Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
The Star
04-05-2025
- Sport
- The Star
Soccer-Atalanta fan stabbed to death in clashes with Inter supporters, media say
(Reuters) -A 26-year-old fan of Italian Serie A team Atalanta was stabbed to death during clashes between Atalanta and Inter Milan supporters in the northern city of Bergamo, media reported on Sunday. It marked a troubling continuation of fan violence in Italy, where last month 13 police officers were injured during clashes between AS Roma and Lazio supporters ahead of the Rome derby. The Atalanta and Inter Milan fans got into an argument near Atalanta's stadium on Saturday night, which escalated into violence, with the Atalanta supporter knifed in the back, La Repubblica and La Gazzetta dello Sport newspapers reported. There was no immediate confirmation from police in Bergamo, where Atalanta are based. Media reported that a suspect in his late teens had been arrested and that a knife was found close to the man who died. Emergency services arrived swiftly but were unable to save his life. (Reporting by Tommy Lund in Gdansk and Gianluca Semeraro in Milan; Editing by Andrew Cawthorne)
Zawya
25-03-2025
- Business
- Zawya
Azimut enters Moroccan asset management market via minority stakes in Red Med Capital units
Italian asset manager Azimut said on Tuesday it had entered the Moroccan asset management market by acquiring minority stakes in two units of local investment bank Red Med Capital. Morocco's asset management industry had over 61 billion euros ($65.98 billion) in assets under management as of December 2024, Azimut said in a statement. Azimut acquired a 29% stake in Red Med Asset Management, which had around 18 billion Moroccan dirham ($1.88 billion) in assets under management at the end of 2024. The Italian asset manager bought a 25% stake in Red Med Securities, which offers investment solutions such as capital market transactions, IPOs and securities trading and had a 4.4% market share in Morocco in 2024. Azimut did not disclose the financial terms of the transactions. ($1 = 9.5662 Moroccan dirham) ($1 = 0.9245 euros) (Reporting by Philippe Leroy Beaulieu, editing by Gianluca Semeraro and Louise Heavens)
Yahoo
28-01-2025
- Business
- Yahoo
Mediobanca rejects Monte dei Paschi bid as lacking rationale
By Gianluca Semeraro MILAN (Reuters) - Italian bank Mediobanca on Tuesday rejected a takeover offer by state-backed rival Monte dei Paschi di Siena, saying a tie-up would be detrimental to its shareholders because it lacked any strategic and financial rationale. Monte dei Paschi (MPS) announced a surprise 13.3 billion euro ($13.9 billion) buyout bid for Mediobanca on Friday, but the value of its all-share offer has declined because of investor scepticism over the planned combination. A commercial bank rescued by the state in 2017, MPS partners in consumer finance with Mediobanca, which reaps more than a third of its income from its stake in insurer Generali. Under CEO Alberto Nagel, Mediobanca has bet on wealth management to complement its investment banking operations, while leaving behind its role of kingpin of Italian finance. MPS shares were down 1.3% by 1253 GMT, having fallen 2% on Monday and 7% on Friday. Based on the proposed exchange ratio, that indicates a value of 14.46 euros for each Mediobanca share, which on Tuesday traded instead at 16.07 euros. Mediobanca said in a statement the offer would weaken its business model by drawing clients and bankers away from its investment banking and wealth management businesses. The board, which will give its formal advice to shareholders only once the bid's prospectus is public in a few months' time, also said the tie-up would hurt Mediobanca's prospective earnings, given that falling interest rates are set to weigh more on MPS. The rejection was expected after CEO Nagel said in a letter to employees at the weekend the offer had not been previously agreed and the bank would decide how to best protect the interests of its stakeholders. MPS has returned to profit and dividends after receiving more than 10.5 billion euros in fresh cash between 2017 and 2022, which it has used to clean up its balance sheet and lay off thousands of staff to slash costs. Favourable court rulings have also allowed it to release money set aside against legal risks. The deal has the blessing of the Italian government, which wants to see a third strong banking force emerge to compete with Intesa Sanpaolo and UniCredit. An MPS stake placement by the state in November brought onboard as shareholders Francesco Gaetano Caltagirone and the holding company of late fellow tycoon Leonardo Del Vecchio. The two are also the main shareholders in Mediobanca and Generali, Italy's top insurer and a large holder of domestic government bonds. ($1 = 0.9528 euros) (Writing by Valentina Za and Keith Weir; Editing by Emelia Sithole-Matarise and Jan Harvey) Sign in to access your portfolio
Yahoo
28-01-2025
- Business
- Yahoo
MPS shares slide further as Mediobanca board meets to discuss bid
By Gianluca Semeraro MILAN (Reuters) - Shares in Monte dei Paschi fell further on Tuesday as the board of Mediobanca gathered to discuss a surprise bid by the smaller rival, the latest move in a series of takeover tussles rattling Italian banking. MPS announced a 13.3-billion euro ($13.9 billion) buyout bid for Mediobanca on Friday but the value of its all-share offer has declined because of investor scepticism over the planned combination. MPS shares were down 1.6% by 0820 GMT, having fallen 2% on Monday and 7% on Friday. Based on the proposed exchange ratio, that entails a value of 14.735 euros for each Mediobanca share, which on Tuesday traded instead at 16.435 euros. Based on Italian rules, the Mediobanca board can give formal advice to shareholders only once the bid's prospectus is public, in a few months' time. However, the board is expected to make clear it does not view with favour a bid by a smaller rival which the state had to save from collapse in 2017. In a letter to employees at the weekend, Mediobanca CEO Alberto Nagel said the offer had not been previously agreed and the bank would decide how to best protect the interests of its stakeholders. MPS has returned to profit and dividends after receiving more than 10.5 billion euros in fresh cash between 2017 and 2022, which it has used to clean up its balance sheet and lay off thousands of staff to slash costs. Favourable court rulings have also allowed it to release money set aside against legal risks. The deal has the blessing of the Italian government which wants to see a third strong banking force emerge to compete with Intesa Sanpaolo and UniCredit. An MPS stake placement by the state in November brought onboard as shareholders Francesco Gaetano Caltagirone and the holding company of late fellow tycoon Leonardo Del Vecchio. The two are also the main shareholders in Mediobanca and Generali, Italy's top insurer and a large holder of domestic government bonds. ($1 = 0.9528 euros) (Writing by Keith Weir and Valentina Za; Editing by Emelia Sithole-Matarise)
