Rejection of Rome's Dirigism: The Market Reorders Italy's Banking World
The shareholders of the bank Monte dei Paschi have paved the way for a takeover by Intesa Sanpaolo. However, the actual goal of Intesa's CEO Carlo Messina is the insurance company Generali.
The shareholders of Monte dei Paschi bank have approved a takeover by Intesa Sanpaolo, paving the way for a 31.4 billion euro deal. Intesa Sanpaolo's CEO, Carlo Messina, aims to acquire Mediobanca, a top investment bank, and ultimately target Assicurazioni Generali, Italy's largest insurance company. The takeover would create Italy's second-largest listed bank.
Messina currently holds a 3.1% stake in Generali, which would rise to 16.5% if the deal goes through. The European Central Bank has already approved Intesa Sanpaolo's offer.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
