Jul 17
Monte dei Paschi criticises Intesa Sanpaolo's offer as inadequate, advances talks with Banco BPM
The board of Banca Monte dei Paschi di Siena issued a preliminary negative opinion on Intesa Sanpaolo's €30.6 billion takeover offer, citing a below-average premium, antitrust risks, and an undervalued branch sale to Unipol, while advancing evaluation of a rival merger proposal from Banco BPM.