Intesa should confirm in document that offer still stands - UBI chief to paper
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MILAN (Reuters) - Intesa Sanpaolo should clarify in a legally binding document that its takeover offer for smaller rival UBI Banca is still valid, UBI CEO Victor Massiah said in a newspaper interview. Intesa on Feb. 17 announced an all-paper exchange offer for UBI to create the euro zone's seventh-largest banking group, just days before the coronavirus outbreak in Italy.UBI has said the pandemic has triggered a provision generally included in acquisition deals known as a 'material adverse..