Before Monday’s bid, speculation had been rife about a tie-up between Banco BPM and Monte dei Paschi di Siena (MPS), which could challenge UniCredit and Italy’s number one bank, Intesa Sanpaolo.
A smaller purchase in Italy could allow UniCredit to keep moving while working on the bigger catch. Resistance, however, remains stiff. Ulrich Grillo, one of the executives at the recent meeting ...
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