However, the examination also revealed uncertainties as regards the situation that would emerge with the year-end application of the International Accounting Standards, due to put options issued by BPI to third parties on shares of group companies and the commitment to purchase Antonveneta shares owned by the other parties to the shareholders’ agreement.
As regards the conduct deemed material for the purpose of verifying compliance with the requirements for the quality of the shareholders and sound and prudent management, an initial phase of the examination found questionable conduct in business dealings by shareholders of Antonveneta, in relation to the facts brought to light by the Consob resolution of 10 May and the checks carried out by the Bank of Italy.