UniCredit plans new Italian holdco to make itself ‘MPE-ready’ for MREL
At its results presentation on Thursday, UniCredit's CEO Jean Pierre Mustier scotched rumours that it was planning to set up a new German holding company and revealed instead plans for a holding company in Italy, designed to make its organisational structure more efficient for regulatory capital and resolution purposes.
The new holding company will not be listed. It will sit underneath UniCredit Spa, the bank’s Italian listed parent company, and will house all the group’s 13 banking businesses in other European countries.Only the Italian business, which holds some 45% of the assets, will remain outside the holding ...
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