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Lender boosts annual profits over €2bn in new record following series of positive court outcomes
Law firm RPC says Monte dei Paschi’s high underwriting fees make capital raise ‘unlawful’
...A deal with Banca Popolare di Milano fell through last year. Orcel has quashed speculation about smaller local peer Banca Popolare di Sondrio....
...According to Banca Akros it also “strengthens Mr Tronchetti Provera’s control on [Pirelli]”....
Economic conditions have worked in CEO’s favour — but MPS remains a medium-sized regional lender
Milan appeals court says the state-owned bank’s former bosses committed no crime
...The clash sparked by the failed MPS deal dragged into this year as UniCredit considered the takeover of smaller local rival Banca Popolare di Milano — the country’s third-largest lender, with operations...
...The deal comes amid mounting speculation that Mediobanca’s next target could be Banca Generali, the private banking arm of Italian insurer Generali....
...News that one of the bank’s key Italian investors thinks buying €6.2bn rival Banca Popolare di Milano might be a good idea was enough to reignite — periodically recurring — mergers and acquisitions speculation...
...The holding company also controls publisher Mondadori and lender Banca Mediolanum....
French insurer was bank’s biggest private investor and maintains insurance partnership with lender
...Despite Orcel’s comments, analysts and investors expect UniCredit to examine potential deals after the failed tie-up with Banca Monte dei Paschi di Siena in 2021 and aborted takeovers of Russia’s Otkritie...
The stock is down some 60 per cent since the bank announced it was ready to pull the trigger.
French insurer was biggest private contributor to rights issue and wants improved terms on joint venture
...Intesa’s all-share takeover of UBI Banca in 2020 delivered economies of scale and a capital boost via the accounting voodoo of negative goodwill....
After national elections, any coalition has to resolve the future of lender Monte dei Paschi di Siena and air carrier ITA
Arranger banks wary of mopping up shares in event investors shun them
Retail investors took up just 10% of ailing bank’s €2.5bn capital raising
Banks including Mediobanca, Credit Suisse, Citigroup and BofA to underwrite fundraising
Rights issue at Monte dei Paschi di Siena includes lucrative deal to attract underwriters
...ECB officials were also disappointed by the lack of information they received from Orcel during his initial talks last year with the Italian government about a potential acquisition of local rival Banca...
The Italian bank is planning to raise €2.5bn to fund a new strategy
...That makes the pending €2.5bn cash call by Banca Monte dei Paschi di Siena one to watch....
Thirteen executives acquitted of helping world’s oldest bank hide more than €2bn losses
Italian state-controlled bank’s current boss has defied government requests to step down
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