Intesa CEO says bank could be seen as takeover target
TURIN, Italy (Reuters) - Intesa Sanpaolo (ISP.MI), Italy's biggest retail bank, said on Tuesday that a recovery in the Italian economy could prompt foreign banks to look at Intesa as a takeover target.
In the text of a speech he made to the bank's managers, CEO Carlo Messina said the bank could remain independent only if it boosted its profitability and market capitalisation.
Italian lenders have been hit hard by the longest recession since World War II. Intesa earns around 80 percent of its revenues in its home country.
(Reporting by Gianni Montani, editing by Isla Binnie)
- Missing jet may have strayed toward Andaman Sea: Malaysian air force |
- NYC buildings explosion kills 2, more missing
- Malaysia military source says missing jet veered to west |
- Exclusive: EU approves framework for asset freezes, travel bans on Russia
- Ukraine appeals to the West as Crimea turns to Russia |