Intesa makes €31-bn bid for MPS amid merger ferment
Italia
Intesa Sanpaolo announced Monday that it was making a bid of close to €31 billion for Monte dei Paschi di Siena (MPS) to form the eurozone's second-largest bank amid merger ferment in the Italian finance sector. At the weekend another Italian lender, Banco BPM, said it would invite MPS, which acquired merchant bank Mediobanca last year, to discuss a "merger of equals". BPM had recently been the target of a takeover bid by UniCredit, Italy's second-largest bank, although the operation
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