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Article: Italian bank merger talk (folo)Takeover speculation lifts global boursesWORLDMARKETPLACE by Bloomberg
- Article from:
- International Herald Tribune
- Article date:
- May 29, 2007
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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International Herald Tribune
05-29-2007
Banca Monte dei Paschi di Siena led European banks higher on speculation that it may receive a bid.The stock climbed 8 cents to 5.18 in Italy. The bank may choose a merger partner ''this summer,'' Gabriello Mancini, the president of Fondazione Montepaschi di Siena, the bank's largest shareholder, told Corriere della Sera newspaper.''Mergers and acquisitions will remain a motor for the performance of bank stocks,'' said Vafa Ahmadi at CPR Asset Management in Paris. ''More than ever, it's an industry that's called to consolidate.'' Intesa Sanpaolo, one of Italy's largest banks, rose after the Il Sole/24 Ore newspaper reported that the bank may help ...