Intesa’s unsolicited bid for Monte dei Paschi jolts Italian banking stocks as rival talks surface
Intesa Sanpaolo on Monday launched an unsolicited €30.6 billion cash-and-share offer for Monte dei Paschi di Siena (MPS), a bid that immediately sent shares in several Italian lenders sharply higher while Intesa’s own stock fell. The move prompted Banco BPM to press ahead with merger discussions and included provisions that touch insurer Unipol and…