Delfin Sarl, the investment group linked to the Del Vecchio family, has rejected reports that it is in negotiations with UniCredit regarding the possible transfer of its 17.5% shareholding in Banca Monte dei Paschi di Siena.  

Media reports have recently speculated about interactions between Delfin and UniCredit concerning Delfin’s stake in Monte Paschi, following the latter’s acquisition of Mediobanca.  

This follows UniCredit’s withdrawal from its plan to purchase Banco BPM over unmet conditions related to the golden power authorisation.  

In a statement to Bloomberg, a spokesperson from Delfin said: “Delfin’s board of directors announces that it has never discussed the possibility of divesting its financial stake” in Monte de Paschi.  

“Delfin denies that negotiations are underway with UniCredit or other operators aimed at the total or partial sale of its stake” in the Italian bank. 

In a statement, Delfin reiterated its “full support” for Monte Paschi’s current leadership. 

Monte de Paschi completed its acquisition of Mediobanca in September, with Delfin’s holdings in Mediobanca exchanged for shares in Monte Paschi. 

However, Italian prosecutors are probing Monte de Paschi CEO Luigi Lovaglio and major shareholders Delfin & Caltagirone for alleged market manipulation and regulatory obstruction in the Mediobanca takeover. 

The actions of Lovaglio and Delfin chairman Francesco Milleri are under review by authorities in Milan amid allegations that they masked coordinated efforts to secure control over Mediobanca. 

Monte Paschi said it “is confident it can provide all the necessary information to clarify the correctness of its actions”, added Bloomberg.  

Meanwhile, Delfin maintained its board “always acted in full compliance with market rules and laws.”