Banca Italease’s shareholders could be
considering a delisting from the Italian stock exchange, it has
emerged.
The option of a delisting came
after a meeting last month of the company’s shareholders. They are
believed to have finally agreed to a long-awaited solution for the
Banca Italease issue, according to Milano Finanza
magazine
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The troubled Italian lessor, a
Milan Stock Exchange-quoted company, reported huge losses in 2007
and 2008, which have heavily impacted on Banco Popolare, Banca
Italease’s majority shareholder with 30.7 percent of its
capital.
The withdrawal of German lessor VR
Leasing from a proposed JV with Banca Italease in November last
year was the last blow.
It hit hard both the lessor and
Banco Popolare, whose shares plunged two thirds last year.
Banca Italease, which has not
denied the rumours, is also said to have hired Mediobanca, an
Italian investment bank, as its adviser for the delisting.
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By GlobalDataIt is understood that the final
decision about the delisting could be agreed at a Banca Italease
board meeting on March 19, when the company is due to announce its
new industrial plan.
According to experts, the delisting
could be followed by a break-up of the company.
