Intesa Sanpaolo complains to market watchdog over MPS defensive moves in M&A battle
Intesa Sanpaolo complains to market watchdog over MPS defensive moves in M&A battle MILAN, Aug 26 (Reuters) - Intesa Sanpaolo ISP.MI on Wednesday filed a complaint to Italy's market watchdog Consob over transactions that smaller rival Monte dei Paschi di Siena BMPS.MI (MPS) has announced following Intesa's offer for it, a source close to the matter said.
Last week MPS announced two simultaneous bids, totaling about €34 billion ($39.7 billion), on rival Banco BPM BAMI.MI and wealth manager Banca Generali BGN.MI, as it seeks to fend off a hostile takeover approach launched by Intesa in June.
(Reporting by Valentina Za, writing by Giulio Piovaccari, editing by Gavin Jones)
Recent news on Intesa Sanpaolo
See all newsMedia: Intesa plans risk transfer deal to hedge $6 billion in credits - Bloomberg News
Deutsche Bank AG FF - Post Stabilisation Notice -BPER EUR 4NC3 Green SNP
Intesa CEO takes aim at Italy's plan to hike taxes on financial sector
Italy - Factors to watch on October 19
Media: Axa braces for loss of Paschi contract as Italy bank deals swirl- Bloomberg News