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Italy Deepens Probe Into Intesa’s UBI Bid

By  |  May 12, 2020

Italy’s antitrust watchdog sent police officials to obtain extra documents from Intesa Sanpaolo and its adviser Mediobanca as it scrutinizes Intesa’s proposed takeover of UBI Banca, four sources familiar with the matter said. 

As well as Intesa and Mediobanca’s offices, police officials were also dispatched by the watchdog to UBI’s offices to obtain additional paperwork to that which has already been submitted by Intesa, the sources told Reuters on Tuesday, May 12. 

Intesa is seeking regulatory clearance for an exchange offer for UBI shares as it attempts to create the Euro zone’s seventh-largest banking group, with a focus on asset management and insurance.

Full Content: Reuters

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