MPS's double desperate maneuver has more logic to it than it seems.
The chief executive of Banco BPM, Luigi Lovaglio, is fighting back against Intesa Sanpaolo’s bid by simultaneously striking a deal with Banca Generali.
Italian bankers may be well placed to write the next mergers and acquisitions playbook. UniCredit CEO Andrea Orcel and Intesa Sanpaolo's Carlo Messina made significant moves on Commerzbank and Banca Monte dei Paschi di Siena respectively. The CEO of Banca Monte dei Paschi di Siena, Luigi Lovaglio, has devised a new tactic, a simultaneous double defence against a takeover. This approach may seem desperate and complicated, but it has strategic and political logic.
Written by urgent.news from El Pais Economia's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
