Intesa Sanpaolo SpA said it’s considering a merger with Assicurazioni Generali SpA, a deal that would reshape Italy’s financial industry by combining its second-biggest bank and largest insurer. “Possible industrial combinations with Assicurazioni Generali are currently being examined by the bank’s management,” Intesa said in a statement late Tuesday.
Category: Veneto, Italy
Paschi Seeks State Aid as Italy Sets $21 Billion for Banks
Italy’s government is set to rescue Banca Monte dei Paschi di Siena SpA after the world’s oldest lender failed to raise 5 billion euros from the market, in what will be the country’s biggest bank nationalization since the 1930s. Italy will plow as much as 20 billion euros into the country’s banks providing both emergency liquidity guarantees and capital injections, as more lenders may seek lifelines soon.
Italy Readies $21 Billion Bank Bailout as Paschi Plan Fails
Italy will plow as much as 20 billion euros into the country’s banks after Banca Monte dei Paschi di Siena SpA failed to secure its future by raising funds from investors. More lenders may seek lifelines soon.
Paschi Drops Private Fundraising, Paving Way for State Aid
Banca Monte dei Paschi di Siena SpA, the world’s oldest lender, abandoned plans to raise 5 billion euros from the market, making a state rescue likely. Monte Paschi failed to lure sufficient demand from investors in a share sale that ended Thursday, the Siena-based bank said in a statement after the market closed.