Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:UniCredit's Pioneer Decision Awaits Another Wrinkle Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, October 5, 2016

UniCredit's Pioneer Decision Awaits Another Wrinkle

News summary by MFWire's editors

There's a political wrinkle in UniCredit's sale of Pioneer Investments [profile].

Jean Pierre Mustier
UniCredit
Chief Executive Officer
Three unnamed sources tell Reuters that Jean-Pierre Mustier, CEO of giant Italian multinational bank UniCredit, will not pick the winning bidder for its multinational asset manager, Pioneer, until after Italian voters weigh in on controversial proposed constitutional reforms via a referendum scheduled for December 4. Yet UniCredit is expected to reveal its Pioneer plans in London on December 13, just nine days after the referendum, as part of the outcome of Mustier's strategic review of UniCredit.

Reports have previously put the Pioneer price tag at $3.35 billion or more. Reuters reports that, per unnamed sources, UniCredit may need to raise up to $18 billion. Yet the wire service wonders if the referendum could throw a monkey wrench in UniCredit's capital raising efforts like divesting from Pioneer.

"The fate of the Italian government likely hinges on the outcome of the referendum, and political instability in case of a 'No' vote could overshadow UniCredit's fundraising efforts," Reuters writes.

Previous reports have outed at least nine potential bidders for Pioneer. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use