Monte dei Paschi Approves Bids to Fight Intesa Bid
Monte dei Paschi di Siena approved plans to bid for Banco BPM and Banca Generali. The move aims to counter a thirty-six billion euro takeover bid from Intesa Sanpaolo.
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Banca Monte dei Paschi Siena approved share-based bids for Banco BPM SpA and Banca Generali SpA, countering a €36B takeover offer from Intesa Sanpaolo. The proposed combination would unite assets worth nearly €70B. Investors face another vote on control of Italy’s banking sector.
