The weak brother is a recurring figure in the History of Italy. The relatives normally let the more able brother look after him and this one acts as a life-long father. Massimo Moratti is the weak brother of all weak brothers. He’s even managed to force Paolo Berlusconi into the background.
He can be forgiven anything even intercepting Bobone Vieri. To avoid damages, the family has nominated him President of Inter. They have allowed him a lifelong income of a few tens of millions of Euro a year for the players. He’s OK with that.
Every so often his big brother Gianmarco asks him to sign the transfers. People trust him and his good Bugs Bunny appearance. And that’s how it’s been even for the Saras IPO on the Stock Exchange.
The Morattis have pocketed 1,700,000,000 euro. They needed that to strengthen the team. The share was quoted at 6 euro at the time there was the collapse in the energy market. Anyone buying lost 12% in a single day.
JP Morgan and Morgan Stanley, the banks responsible for the placement, gained 12 million euro each thanks to the ups and downs.
Summary: someone decides that the price of 6 euro is right. Savers believe, buy, and lose. The Morattis and the banks gain and the prosecutors investigate.
Where was Consob? Cardia shed light. Yesterday’s championship was not won by Inter yesterday.
The brand name hasn’t belonged to them for some time now. They sold it, after a correction on this blog, to Inter Brand srl for 159 million euro.
The prosecutors are investigating a hypothesis of “balance sheet gaps for which no one is under investigation” (Corriere della Sera). I’m sure that it will turn out to be a hypothesis that is without foundation. Massimo wins but without stealing.