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Monte dei Paschi reviews Intesa merger prospects
Italy's Monte dei Paschi di Siena bank is seeking the fate of its €35 billion acquisition deal with Intesa Sanpaolo, as its board plans to discuss the latest developments following Intesa's offer to increase the cash component of the deal by 25% if Monte dei Paschi's proposed defensive plan is rejected. The defensive plan faces a major obstacle, as about 30% of the bank's shareholders oppose it, making it difficult to secure the required two-thirds approval. The market is awaiting the board's decision, which is scheduled to address these developments, while the fate of the deal remains uncertain due to potential opposition and a halt to the execution steps.
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