The cloistered and silent corridors of Mediobanca’s Milan headquarters, in a former monastery behind La Scala, are a world away from the busy lifts of the nearby UniCredit skyscraper.
Italy’s banking crisis, however, will push Mediobanca further from a past when it used a web of equity stakes to pull corporate strings. Under Enrico Cuccia, who died almost 20 years ago, Mediobanca helped Italian businessmen free up capital while retaining control during the post-war boom years.
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