By Reuters Staff
2 Min Read
ROME, Jan 13 (Reuters) - State-owned Monte dei Paschi is expected to grant access to confidential data to potential merger partners within days, three sources familiar with the matter said on Wednesday.
Italy is pressing ahead with re-privatisation efforts for the country’s fourth-largest bank despite rifts within the ruling coalition that risk precipitating a government crisis.
Monte dei Paschi (MPS) has unveiled an up to 2.5 billion euro ($3.04 billion) capital shortfall and is due to present a plan to fill it to the European Central Bank by the end of the month.
To secure a lasting solution to the bank’s woes, the Treasury is keen to strike a merger deal for MPS and had been focusing on UniCredit as the ideal partner.
By Reuters Staff
2 Min Read
FILE PHOTO: A Credit Agricole logo is seen outside a bank office in Vertou near Nantes, France, February 11, 2019. REUTERS/Stephane Mahe
MILAN (Reuters) - The board of Credito Valtellinese (Creval) said on Thursday it would seek to create value for its shareholders by looking at all strategic options, as it prepares to give an opinion on the takeover bid launched by Credit Agricole.
The Italian division of France’s Credit Agricole in November offered 10.50 euro a share to buy the third-tier Italian lender for an overall investment of 737 million euros ($895 million).
Referring to comments made by its advisers on the offer, Creval listed an additional tax benefit of around 350 million euros that Credit Agricole Italy would reap as a result of a potential merger with the Italian bank that only materialised after the offer was announced.
State-owned Monte dei Paschi is expected to grant access to confidential data to potential merger partners within days, three sources familiar with the matter said on Wednesday.
Italia urge un comprador para su cuarto banco, Monte dei Paschi | Compañías elpais.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from elpais.com Daily Mail and Mail on Sunday newspapers.
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