Intesa Wins ECB Approval for Monte dei Paschi
Intesa Sanpaolo has received European Central Bank authorization to acquire Monte dei Paschi di Siena. The 32 billion euro takeover moves forward as the bank awaits final regulatory approvals.
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INTESA SANPAOLO secured European Central Bank approval on Tuesday to take control of BANCA MONTE DEI PASCHI SIENA in a €32 billion ($36 billion) cash-and-share offer. The green light clears a major regulatory hurdle for Italy's largest banking group. The transaction ranks among the largest domestic banking consolidations in southern Europe in recent years.
