Update on Monte Dei Paschi merger situation
Italian bank Monte Dei Paschi (BMPS) has had quite the saga over the last two years. BMPS has had CEO issues, multiple potential merger partners, rogue board members, and tons of media! Everything a good banking soap opera needs. When last we left BMPS, Intesa Sanpaolo made an offer to purchase the world’s oldest bank seeking to create the “UBS” of Italy. BMPS responded by attempting to purchase Banco BPM. Intesa Sanpaolo received pushback from Italian regulators and offer to split up BMPS by selling the retail part of the bank to BPER Banca SpA. BMPS has fended off the merger proposal but…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.