Italy’s Banks Are Headed for a Showdown With a Blockbuster Cast
- Two conflicting plans have thrown Italian finance into turmoil
- Standoff involves multiple actors, could ripple across Europe
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Italy has emerged as a hotbed of European bank consolidation as multiple deals are set to transform the country’s finance industry, with knock-on effects across Germany, France and beyond.
UniCredit SpA’s surprise bid for Banco BPM SpA came just weeks after the smaller rival embarked on a takeover attempt of its own, offering to buy asset manager Anima Holding SpA and taking a large stake in Banca Monte dei Paschi di Siena SpA from the government.