Intesa files Consob complaint over MPS deals
Intesa Sanpaolo has asked market watchdog Consob to review defensive transactions announced by Monte dei Paschi di Siena. The regulator will assess whether the moves violated rules restricting defensive measures against Intesas takeover bid.
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INTESA SANPAOLO filed a complaint with Italy's market watchdog Consob on Wednesday morning over defensive transactions announced by smaller rival BANCA MONTE DEI PASCHI SIENA in an escalating $39.7B M&A battle. The filing challenges the legality of recent counter-bids launched to block a hostile takeover approach. The regulatory review will test the limits of target-defense rules during high-stakes European banking consolidation.
