Mediobanca
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Mediobanca (BIT: MB) is an Italian investment bank founded by Enrico Cuccia in 1946 to facilitate the post-WW2 reconstruction of Italian industry.
[edit] History
From then until the end of the century it took an active and usually decisive role in nearly every major merger, takeover and industrial restructuring. Their final and perhaps greatest coup was their decisive role in the takeover of Telecom Italia by Olivetti and Roberto Colannino. The deal was decided by the narrowest of margins with 51% of shareholders voting in favour of the deal.
[edit] Mediobanca in the modern era
In October 2002, Cuccia's successor, Vincenzo Maranghi, faced the first shareholder revolt in Mediobanca's history, with hostile minority shareholders accusing the board of running Mediobanca's affairs for influence rather than profit and criticising Mediobanca's behind-the-curtain firing of Gianfranco Gutty, the CEO, for Italy's insurance giant Generali a month earlier[citation needed]. Early in April 2003, Maranghi was forced to step down from the board.
[edit] External links
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