Unipol jumps as $35 billion MPS deal includes BPER
BUZZ-Unipol jumps as $35 billion MPS deal includes BPER ** Shares in Italy's Unipol UNPI.MI rise as much as 6%, highest since November 2008, as the insurer's deal with Intesa Sanpaolo ISP.MI involves BPER Banca EMII.MI in the $35 billion cash-and-share bid for Monte dei Paschi (MPS) BMPS.MI
** With an eye on competition concerns, Intesa on Monday presented a separate deal to sell 635 MPS branches and the brand to insurer Unipol; this network would be combined with lender BPER, in which Unipol is a leading shareholder, to create a bank that would operate under the MPS brand
** Kepler Cheuvreux brokerage upgrades BPER to "buy" from "hold", with a €13.8 price target
** Shares in BPER rise as much as 4.6%
** Equita views potential acquisition of MPS compendium as an attractive opportunity for Unipol, citing possibility of significant value creation and consolidation in the Italian banking sector
** "We estimate double-digit EPS/DPS accretion space for both Unipol and BPER" - Equita
** Kepler earmarks the business plan update to be presented on August 6 as a potential catalyst for the stock
(Reporting by Romolo Tosiani)