Intesa shares rally as bank heralds ‘new chapter’

By Tyler Davies
04 Aug 2020

Investors reacted positively to Intesa Sanpaolo’s results on Tuesday, as the bank confirmed that it had all the necessary approvals to complete a merger with UBI Banca.

Intesa said that 90.2% of UBI’s shareholders had accepted the terms of its takeover offer. 

Market participants have viewed the transaction as an important test case for consolidation in the Italian banking sector. 

The resulting merger will create the largest bank in Italy, with Intesa set ...

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