Stockbroker who criticised potential APS-HSBC deal dropped off RTK guest slot

The stockbroker Paul Bonello was informed his guest contributions to the RTK radio programme Għal Kulħadd would no longer be required, days after his missive against a planned sale of HSBC Bank Malta to Church-owned bank APS.

Bonello said on Facebook that he had been advised his fortnightly guest participation on the radio programme, regarding finance and economic matters, was no longer required.

“I ask: does this have anything to do with my expression of opinion – both from an economic and regulatory point of view as well as a Catholic practitioner – regarding the APS potential acquisition of HSBC operations?” Bonello said on Facebook.

Stockbroker Paul Bonello: ‘Unlikely APS has firepower for HSBC buy’

RTK is owned by the Maltese Catholic archdiocese’s Beacon Media group. The radio station denied the allegation in a statement issued by editor Matthew Xuereb, who said changes in presenters and guests was “normal practice”.

“Before the launch of its new schedule, RTK103 communicated to Mr Paul Bonello that changes were being made to the financial literacy segment of Christine Delicata’s radio programme ‘Għal Kulħadd’, since in recent days a sponsor was acquired for this segment,” RTK editor Matthew Xuereb said.

“Mr Bonello can rest assured that decisions in this regard have absolutely nothing to do with his comments in the media. RTK103 has never taken issue with him or any other guests on this topic.”

Xuereb thanked Bonello for his contributions to the programming schedules. “We will explore if there are any options in our radio programming schedule which might be mutually beneficial.”

But Bonello contested the explanation, in a comment to MaltaToday. “It’s untruthful. The presenter was insisting I should suspend my summer break soonest possible, with the next programme scheduled for 25 September. No doubt, presenter Christine Delicata can confirm this. I am prepared to take a sworn statement. Is Matthew Xuereb prepared to take an oath to support the veracity of his statement?”

Bonello has taken to task APS’s paucity of information in the alleged sale of HSBC Malta, saying its company announcement had falen short of the EU Market Abuse Regulation and the Malta Stock Exchange Listing Rules.

“I’d rather not have the Maltese Church owning and controlling what would be the largest bank in Malta… maybe it should devote its attention to recover just a small part of the large mass that abandoned it, rather than have its financial instution, historically perceived as a means for its social mission, contrive ways of acquiring 70% of HSBC Malta’s shares to satisfy someone’s delusions of grandeur.”