June 11, 2020 / 6:53 AM / a month ago

Intesa confident it can win antitrust approval for UBI deal-exec to paper

FILE PHOTO: Pages of a cheque book of Ubi Banca Popolare di Bergamo are seen in this picture illustration February 11, 2016. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Intesa Sanpaolo (ISP.MI) is confident it can overcome objections raised so far by Italy’s antitrust authority to its proposed takeover bid for rival UBI Banca (UBI.MI), a top executive at the Italian lender was quoted as saying on Thursday.

“The bank is doing its utmost to cooperate with the competition regulator and ... is confident it can overcome any difficulties, also in light of the findings of the preliminary antitrust inquiry, so as to gain a green light,” Gaetano Micciche, the chairman of Intesa’s investment banking arm IMI, told local paper La Guida.

Reporting by Valentina Za; editing by Agnieszka Flak

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