Word: mediobanca
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Dates: during 1980-1989
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Nonetheless, some countries remain undeterred. Mediobanca, the leading Italian merchant bank, with assets of $130 million, is still expected to go on the block sometime next year. In Britain, despite the BP setback, Chancellor Lawson last week predicted that privatization would go "from strength to strength." The next item of government business is privatization of Britain's $76 billion worth of electrical utilities...
...successful turnaround to become Europe's best- selling automaker, the Tripoli government refused to part with its shares. Last week Libya, presumably strapped for cash by low oil prices, handed over its shares for a handsome $3 billion. Two of the buyers, West Germany's Deutsche Bank and Mediobanca of Milan, plan to offer their stake to investors, in one of the largest secondary placements to date in the burgeoning Euroequities market...
Held were Fausto Calabria, 62, now chairman of Mediobanca, Italy's most powerful merchant bank, and Sergio De Amicis, 66, former president of Condotte, the state-controlled construction firm. Police said that between 1972 and 1982, when the two held top positions at I.R.I., they built up a cache of so-called black funds. This essentially loose corporate change can be spent at the discretion of top officials as bribes to gain foreign contracts, as political contributions or simply as untaxed executive bonuses. What happened to the I.R.I, money last week was a mystery. A total of $26 million...