Intesa says sticks to profit goal in UBI deal even if unable to merge
Share:
MILAN (Reuters) - Intesa Sanpaolo said a failure to incorporate rival UBI Banca in a planned takeover bid would only slightly lessen prospective synergies, leaving a 2022 profit goal of at least 5 billion euros ($5.6 billion) unaffected. Intesa published details of its all-paper bid for UBI on Friday, following a green light from market regulator Consob, ahead of launching the offer from July 6.The offer is valid with a take-up of 50% plus one share.Intesa warned that it may not be able to..