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Paschi Casts Doubts Over Intesa Bid, Suggests Studying BPM Plan
Key Points
Paschi Casts Doubts Over Intesa Bid, Suggests Studying BPM Plan Banca Monte dei Paschi di Siena SpA’s board of directors raised broad concerns over a takeover bid by Intesa Sanpaolo SpA, saying the price offered appears low and that it relies on optimistic assumptions while exposing shareholders to risks. The board, in a preliminary assessment, also said that a rival plan by Banco BPM SpA merits a detailed assessment, as it would preserve Monte Paschi as integrated banking group rather than...
Paschi Casts Doubts Over Intesa Bid, Suggests Studying BPM Plan
Banca Monte dei Paschi di Siena SpA’s board of directors raised broad concerns over a takeover bid by Intesa Sanpaolo SpA, saying the price offered appears low and that it relies on optimistic assumptions while exposing shareholders to risks.
The board, in a preliminary assessment, also said that a rival plan by Banco BPM SpA merits a detailed assessment, as it would preserve Monte Paschi as integrated banking group rather than requiring the break-up of its businesses, branch network and brand.