Monte dei Paschi seen rising on Intesa's $35 bln bid
BUZZ-Monte dei Paschi seen rising on Intesa's $35 bln bid ** Shares in Italian lender Monte dei Paschi di Siena (MPS) BMPS.MI are seen up 5-10% after Intesa Sanpaolo ISP.MI launches an unsolicited €30.6 billion ($35.24 billion) cash-and-share bid for the smaller rival
** Italy's biggest bank is offering a 12.5% premium to MPS's €8.945 closing price on Friday
** "At face value, the proposed transaction makes long-term strategic sense for Intesa" - RBC
** Intesa also agrees with insurer Unipol UNPI.MI, main investor in BPER Banca EMII.MI, to sell a banking business comprising the MPS brand, if the bid succeeds
** Banco BPM BAMI.MI, amid mounting expectations of an Intesa move, said on Sunday it would seek to open talks with MPS over a potential combination
** Previous comments by Italian political leaders backing domestic banking consolidation while excluding Intesa are likely to influence the final outcome of the transaction, RBC notes
** Up to Friday's session close, MPS shares were down 2% YTD
($1 = 0.8683 euros)
(Reporting by Philippe Leroy Beaulieu in Gdansk)