Intesa Sanpaolo Makes Bid for Smaller Rival UBI Banca
Posted on 02/18/2020
Italian banking giant Intesa Sanpaolo S.p.A. made a bid to acquire smaller banking rival UBI Banca for 4.86 billion EUR. In addition, to address antitrust concerns, Intesa signed an agreement to sell 400 to 500 branches of the combined bank to BPER Banca, and could also sell some of UBI Banca’s insurance assets to Bologna, Italy-based UnipolSai Assicurazioni S.p.A.
