Andrea Mandala

Italy's depositor fund kicks off sale of loss-making Carige

Jun 17 2021

MILAN Italy's depositor protection fund (FITD) has opened up Banca Carige's books to potential suitors in a bid to draw a line under the bank's troubles by selling it off after rescuing it in 2019, three sources close to the matter said.

Unipol's move opens new chapter in Italian banking M&A saga

Jun 01 2021

MILAN A small investment by Italian financial group Unipol in a local bank could put an end to the waiting game in Italian bank consolidation, aiding Rome's efforts to finally cut its stake in ailing Monte dei Paschi (MPS).

BPER's top investor Unipol ups Popolare Sondrio stake to 7%

May 26 2021

MILAN Italian financial group Unipol has raised its stake in Popolare di Sondrio to 7%, in a move that may ease a tie-up between the regional bank and bigger rival BPER Banca.

UPDATE 3- Italy opts not to raise incentives for bank mergers, hitting shares

May 20 2021

* Proposal had raised chance of UniCredit takeover of Banco BPM

UPDATE 2-Banco BPM beats profit forecast as it prepares for M&A

May 06 2021

MILAN, May 6 Italy's Banco BPM said on Thursday it would accelerate its bad loans clean as it prepares for a merger deal, after higher-than-forecast revenues drove its quarter profit above analyst expectations. Italy's third-largest bank has been actively looking for a merger partner after rival UBI was snapped up by Intesa Sanpaolo's last year. Banco BPM, which has reduced the amount of defaulted debt on its balance sheet, said it would further sell bad loans worth 1.5 billion euros ($1.8 billion) by June.

Euronext seals Borsa Italiana takeover with capital hike

Apr 29 2021

PARIS/MILAN Euronext on Thursday completed its takeover of the Milan bourse and announced a 1.8 billion euros ($2.2 billion) share sale to fund a deal that turns Italy into the core trading venue of the pan-European stock exchange.

Credit Agricole boosts Italy presence with successful Creval bid

Apr 23 2021

MILAN (Reuters) -Credit Agricole sealed its $1 billion takeover bid for Creval on Friday, in a move that strengthens its foothold in Italy's consolidating banking sector - its biggest market outside France.

UPDATE 2-Banco BPM says CEO had no contacts with UniCredit's boss over M&A

Apr 22 2021

MILAN, April 22 The head of Italy's Banco BPM has not been in contact with the newly-appointed chief executive of rival UniCredit, a spokeswoman for Banco BPM said on Thursday, after a report the two had met over a potential tie-up.

World News

'Pingdemic' puts Britain's food supply under strain

LONDON (Reuters) -British supermarkets said on Thursday that some products were in short supply and petrol stations had been forced to close after the official health app told hundreds of thousands of workers to isolate following contact with someone with COVID-19.