Banks: Italy keeps state share in takeover battle for Monte dei Paschi
Italy is temporarily halting the sale of its stake in Banca Monte dei Paschi di Siena. The government does not want to influence the takeover battle for the traditional bank and holds 4.8 percent.
Italy's government has put on hold plans to sell its 4.8% stake in Monte dei Paschi di Siena. The decision was made to avoid influencing the battle for control of the bank, Economy Minister Giancarlo Giorgetti said. MPS recently made a €34 billion offer for Banco BPM and Banca Generali in an attempt to fend off a hostile takeover bid from Intesa Sanpaolo, which values MPS at €36 billion. Banco BPM described MPS' offer as unsolicited.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
