Edition:
United Kingdom

Valentina Za

UBI spurns Intesa's offer and pledges to boost dividends

03 Jul 2020

MILAN UBI Banca on Friday rejected a takeover bid by rival Intesa Sanpaolo as inadequate and risky for its shareholders, while pledging to boost dividends despite cutting profit forecasts.

Italy bank showdown looms in test for European consolidation

01 Jul 2020

MILAN/LONDON As many bankers fled Italy's financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca's Milan offices.

Italy bank showdown looms in test for European consolidation

30 Jun 2020

MILAN/LONDON As many bankers fled Italy's financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca's Milan offices.

FOCUS-Italy bank showdown looms in test for European consolidation

30 Jun 2020

MILAN/LONDON, June 30 As many bankers fled Italy's financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca's Milan offices.

Intesa maintains profit goal even if unable to merge with UBI

26 Jun 2020

MILAN Intesa Sanpaolo expects synergies from its proposed takeover of UBI Banca would be only slightly less if it cannot fully incorporate its Italian rival, and would not affect a 2022 profit goal of at least 5 billion euros ($5.6 billion).

Europe's emergency loan schemes stir fears of a debt trap

24 Jun 2020

MILAN/PARIS/MADRID Michele Berteramo, owner of the Movida restaurant and cocktail bar on Milan's Naviglio Pavese canal, had been about to spend 40,000 euros (£36,160) on renovations when the new coronavirus pandemic struck northern Italy. 

Intesa gets ECB nod for UBI takeover, waives COVID-19 clause

05 Jun 2020

MILAN Italian bank Intesa Sanpaolo said on Friday it had received European Central Bank authorisation to take over smaller rival UBI Banca , adding it was waiving a provision that would allow it to drop the deal due to COVID-19.

Monte Paschi says bad debt plan has preliminary EU nod

29 May 2020

MILAN Italian state-owned bank Banca Monte dei Paschi di Siena has received a preliminary green light from European Union competition authorities for a long-awaited bad debt clean-up plan.

Nexi and SIA merger talks gain traction ahead of valuation review: sources

21 May 2020

LONDON/MILAN Italian payments firms Nexi and SIA are exchanging confidential information as they explore a possible tie-up to create an Italian powerhouse in the sector, three sources familiar with the matter said.

Ordinary Joe no cure for Italy's debt disease

18 May 2020

LONDON As Italy's already massive public debt soars further due to the coronavirus crisis, its authorities are calling on ordinary citizens to help fund recovery efforts. The plan could aid immediate financing needs but will do little to allay eventual default risks.

World News