Italian assets fly as Intesa launches shock bid for UBI

By Tyler Davies
18 Feb 2020

Intesa Sanpaolo caught the market by surprise when it launched a takeover bid for UBI Banca on Monday night. The announcement sent credit and equity valuations surging higher, with investors pinning their hopes on consolidation in the Italian banking sector.

Intesa Sanpaolo is launching a voluntary public exchange offer on all of UBI Banca’s ordinary shares, as it looks to delist the bank and then merge it into its own business.

The offer comes at an exchange ratio of 1.7 times and values UBI at €4.94bn — ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.