Italy's insurance regulator clears Intesa's UBI deal

MILAN (Reuters) - Italy's insurance authority has cleared Intesa Sanpaolo's proposed acquisition of rival UBI Banca , providing the last regulatory green light awaited by market watchdog Consob to examine the offer's document.Intesa said in a statement on Wednesday, IVASS had authorised it to gain control of UBI's in-house insurance arm BAP and acquire significant holdings in UBI's insurance joint-ventures Aviva Vita and Lombarda Vita. Consob has now five days to give its go-ahead to the..