Italian Tycoon Francesco Gaetano Caltagirone Emerges as Major Player in Financial Sector Restructuring
Italian billionaire Francesco Gaetano Caltagirone has become a prominent figure in the ongoing transformation of the Italian financial sector.
Battles in Generali and Mediobanca
Caltagirone has expanded his investments in the financial sector, acquiring key stakes in Monte dei Paschi di Siena (MPS) and Anima Holding. He is also the third-largest shareholder in Generali, Italy's top insurer, with a 6.9% stake. Mediobanca, the largest investor in Generali with a 13% stake, has been accused by Caltagirone of wielding excessive influence over the board and governance system.
Role in Italian Banking Consolidation
Caltagirone's holdings have positioned him as a potential rival to UniCredit CEO Andrea Orcel, who recently launched a buyout offer for Banco BPM. Before UniCredit's intervention, Caltagirone appeared poised to become a significant shareholder in the combined entity through his stakes in MPS, Anima, and BPM.
Who is Caltagirone?
Caltagirone is a prominent Italian entrepreneur with interests spanning construction, cement, real estate, publishing, and finance. He is the owner of Rome-based newspaper Il Messaggero and several regional newspapers. Despite his wealth and influence, Caltagirone maintains a low profile and rarely gives media interviews.