Intesa Sanpaolo Board Said to Meet to Review Monte Paschi Bid

Intesa Sanpaolo SpA is preparing a bid for Banca Monte dei Paschi di Siena SpA, hours after rival Banco BPM SpA proposed a €50 billion ($58 billion) tie-up, according to...

By Chiara Albanese, Sonia Sirletti, Luca Casiraghi · Bloomberg

Intesa Sanpaolo SpA is preparing a bid for Banca Monte dei Paschi di Siena SpA, hours after rival Banco BPM SpA proposed a €50 billion ($58 billion) tie-up, according to people familiar with the matter, injecting fresh momentum into a two-year consolidation push that’s transforming Italy’s finance industry.