Intesa Sanpaolo launches €4.9bn takeover bid on UBI Banca

Eugenia Jiménez
clock • 2 min read

Italian bank Intesa Sanpaolo has launched a €4.86bn takeover bid on its banking rival UBI Banca in what has been described as a response to supervisors' repeated appeals for Italian banks' consolidation. The move has been seen by some industry voices and the media as an attempt by Intesa to start a consolidation wave in Italy's fragmented banking system. The Italian lender, which is the biggest in the country, said it would offer 1.7 newly issued shares for every 10 UBI Banca shares ten...

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Eugenia Jiménez
Author spotlight

Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.

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