Privatization Italy: Ridiculous and Dangerous Incompetence

Privatization Italy: Ridiculous and Dangerous Incompetence
I wonder if some subsidized media will notice the figure of shit made ​​by the new phenomenon that has Italy as Minister of Economy and Finance.

Moreover, it is something very dangerous and that puts a stone TOMBSTONE any other hypothesis privatization Italian. Ok many will say, thank goodness! Well, for a moment, before you breathe a sigh of relief it would be better to note that Italy has shown yet another business GUANO A view towards foreign capital.

And at the same time, or state has given yet another rip-off citizens, Italian investors who trusted him. And I agree, cabbage to trust them, but be careful, here we are talking about small investors who have made buggered by a series of television commercials and went to subscribe for shares on the basis of what is fortunately little confidence that the Italian State Thief still manages to convey.

I remind points to the sad and horrible story of the sale of shares on the Stock Exchange Fincantieri:

The story is well known: in the public offering and sale of shares Fincantieri, at the hands of its sole shareholder of the Deposits and Loans Fund, was planned sale of 104 million shares by CDP, and the issuance of 600 million new shares, to support the development plans of the company. Of this stock offer maximum, 141 million shares were allocated to the retail public (small investors), and the remaining 563 million shares to institutional investors. What happens at the end of the placement period? You find that foreign institutional investors have booked only a dozen million shares, while the Italian institutional thirty million. Out of a total of 563 million shares to institutional destined. So what? Meletti writes:

     What does this point to the number one Fincantieri, Giuseppe Bono? Do not lose heart and run for cover. Remove the offering of shares of the Deposit and Loans for sale, and it also reduces the capital increase, so that the placement is reduced from 704 million to 450 million shares. Then fixed the price at minimum fork, 0.78 euro. But the shot of the master is called claw-back. This is the clause that allows, at any time, move the weights of placement among institutional and retail investors. International funds have good reason to stay away from Fincantieri actions? Very well, without investigating further they give up the Italian retail investors. So go to the institutional 49 million shares (him had proposed 563 million), and the poor small private investors who still trust their bank come to 401 million shares (313 million euro on the nail) instead of the proposed 141 million. One might ask: but if depositors 400 million shares have asked the, what's wrong? There is no one warned them that the international funds of those actions were spitting on us. Anyone who has bank branches knows the refrain that the officials are trained to repeat in exchange for a premium for each share placed: "Look, it's a bargain garnde, the Fincantieri will be snapped up, the demand will be three times the offer, then she asks three lots least four thousand shares, so when you go to the allotment will have its package verbatim "

Well so many beautiful small shareholders to be mowed for good.

In fact, after the price of decency Fincantieri has magically kept on the prices of placement for a couple of sessions and via the parachute (bet that was placed by the placing banks
It was serene, this is just the beginning of shearing.

Now, with what face Padoan goes around talking about the stock market and sales of state companies?

What are the credentials that Padoan screams in Europe?

Pull Parcels to the citizens and the (few) institutions that have been?

Wow.

And look, I know, sprouts are those who have trusted the State, it is true. But I do not find anything nienete fun and even useful, just another demonstration of international jurisdiction.

Fonte:http://www.rischiocalcolato.it/2014/07/privatizzazioni-ditaglia-padona-dimostra-tutta-sua-ridicola-pericolosa-incompetenza.html
Translated by Google.