MILAN UniCredit has heavily written down the value of its 700 million euro ($756 million) investment in Italy's bank rescue fund and other investors are likely to follow suit, sources told Reuters, complicating efforts to stabilize the nation's banking sector.
MILAN Intesa Sanpaolo denied on Thursday it was preparing an all-share offer for Assicurazioni Generali after shares in the Italian insurer rose in response to speculation that a bid was on its way.
MILAN UniCredit , Italy's biggest bank, has assured investors the European Central Bank is happy with its turnaround plan and will not require it to book more writedowns on its bad loans than already envisaged, a source said on Tuesday.
MILAN Italian banking and insurance group Intesa Sanpaolo confirmed on Tuesday it was examining a possible tie-up with Italy's largest insurer Assicurazioni Generali , in what would be one of Europe's biggest such deals.
MILAN/ABU DHABI Abu Dhabi investor Aabar Investments is set to buy more shares in UniCredit in the Italian bank's upcoming 13 billion-euro ($14 billion) share offer, Italy's biggest ever cash call, three sources said on Wednesday.
MILAN/LONDON On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train toward the medieval city of Siena, racing to meet the directors of the world's oldest bank to present them with a rescue plan.
MILAN/LONDON On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieval city of Siena, racing to meet the directors of the world's oldest bank to present them with a rescue plan.
MILAN Monte dei Paschi di Siena has all but failed to pull off a last-ditch rescue plan and a state bailout for the ailing Italian bank now looks inevitable, sources said on Wednesday.
ROME/MILAN Italy's government is ready to pump 15 billion euros into Monte dei Paschi di Siena and other ailing banks, sources said, as the country's third-largest lender pushes ahead with a private rescue plan that is widely expected to fail.
MILAN Italy's biggest bank by assets UniCredit has reached a deal to sell its asset manager Pioneer to France's Amundi for more than 4 billion euros ($4.2 billion), a source with knowledge of the matter said on Sunday.