UniCredit fees an oasis in an ECM desert

摘要

The 19 underwriters of Unicredit's €13bn rights issue should make the most of their fat fees as there will be few other pay days in Italy in the coming months, with a series of Italian banking recapitalisations likely to be orchestrated by the state behind closed doors - as in the case of Banca Monte DEI Paschidi Siena -leaving little else in the pipeline.