July 22, 2020 / 4:59 PM / 18 days ago

Take-up in Intesa's bid for UBI doubles to 17.2% - bourse data

FILE PHOTO: Intesa San Paolo bank logo is seen at the headquaters in Turin, Italy, November 7, 2018. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Investors have tendered shares in Intesa Sanpaolo’s (ISP.MI) takeover bid for UBI Banca (UBI.MI) equal to 17.16% of the target’s capital, the Italian bourse said on Wednesday.

That compares with a take-up of 8.49% on Tuesday.

The offer runs until July 28 and needs acceptance from 50% of UBI’s capital plus one share to be valid.

Reporting by Valentina Za, editing by Giulia Segreti

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