February 12, 2015 / 2:37 PM / 3 years ago

UBI CEO says M&A deals must create value for own shareholders

MILAN, Feb 12 (Reuters) - Italy’s UBI Banca, which has been tipped in the press as a potential white knight to rescue rival Monte dei Paschi di Siena, would only consider a merger deal that created value for its own shareholders, its CEO said.

Chief Executive Victor Massiah told a journalist call he “would not deny the active role” that others see UBI play in a possible fresh wave of mergers among Italian cooperative banks, following a government move to turn them into joint-stock companies.

“But we would only consider operations that create value for our shareholders and not just for others’ shareholders,” he said. (Reporting by Valentina Za; editing by Danilo Masoni)

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