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4-Traders Homepage  >  Equities  >  Italian Stock Exchange  >  UniCredit SpA       IT0004781412

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Former UniCredit CEO, 19 Others to Stand Trial for "Brontos"

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06/05/2012 | 11:26am CEST

By Oscar Bodini and Christopher Emsden

ROME--Former UniCredit SpA (>> UniCredit SpA) Chief Executive Alessandro Profumo and 19 other bank officials will have to stand trial for their role in agreeing "Brontos," a financial swap, that investigators say was designed to avoid taxes.

Laura Marchiondelli, a judge in Milan, indicted Profumo--who is now Chairman of Banca Monte dei Paschi di Siena SpA (>> Banca Monte dei Paschi di Siena SpA) and the others Tuesday, accepting the request of prosecutors led by Alfredo Robledo, MF-Dow Jones reported.

The trial's first hearing was set for Oct. 1.

Mr. Profumo and UniCredit have both stated that they acted correctly in the Brontos deal, which was similar to structured-finance transactions entered into by most Italian banks in recent years.

The Milan court had impounded EUR245 million from UniCredit when the charges first emerged last year, but has since released those funds.

-Write to Oscar Bodini of MF-Dow Jones and Christopher Emsden at [email protected]

Order free Annual Report for BANCA MPS (MONTE PASCHI SIENA)

Visit http://djnweurope.ar.wilink.com/?ticker=IT0001334587 or call +44 (0)208 391 6028

Stocks mentioned in the article : UniCredit SpA, Banca Monte dei Paschi di Siena SpA
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Financials (€)
Sales 2017 19 450 M
EBIT 2017 7 449 M
Net income 2017 3 387 M
Debt 2017 -
Yield 2017 2,29%
P/E ratio 2017 8,56
P/E ratio 2018 8,01
Capi. / Sales 2017 1,56x
Capi. / Sales 2018 1,49x
Capitalization 30 372 M
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Number of Analysts 26
Average target price 16,0 €
Spread / Average Target 17%
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Jean-Pierre Mustier Chief Executive Officer
Giuseppe Vita Chairman
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