Intesa Sanpaolo Will Mull Buying Monte Paschi Branches -CEO
June 22 2009 - 8:53AM
Dow Jones News
Italian bank Intesa Sanpaolo SpA (ISP.MI) will consider the
purchase of some of the 150 branches Banca Monte dei Paschi di
Siena (BMPS.MI) is selling due to antitrust obligations, Intesa
Sanpaolo Chief Executive Corrado Passera said Monday.
"It's an option to evaluate," Passera told reporters in Milan
when asked about a possible interest in Monte Paschi branches.
According to a report in Italian daily Il Sole 24 Ore, Intesa
Sanpaolo has already expressed interest for 50 branches to Monte
Paschi's advisers, Goldman Sachs (GS) and Rothschild.
Other interested parties include regional bank Banca Popolare di
Puglia e Basilicata, which is interested in buying 15 branches
valued at around EUR75 million, the paper said.
The U.K.'s Barclays PLC (BCS) would also be interested in
increasing its Italian branches, but its offer is apparently too
low for Monte Paschi, Il Sole said.
--By Luca Casiraghi and Giada Zampano, Dow Jones Newswires; +39
06 697 66920; giada.zampano@dowjones.com