Italian bank share deal smacks of industrial policy
Sale of Monte dei Paschi di Siena shares shows European governments are keen to retain control of key assets
Sale of Monte dei Paschi di Siena shares shows European governments are keen to retain control of key assets

UniCredit, Norway’s oil fund and BlackRock were among investors wanting shares in process run by small local bank

Integration plan due within six months of deal will detail funding strategies as well as IT and cyber security risks

Monte dei Paschi di Siena’s board stripped Luigi Lovaglio of his powers, setting up a fight for its leadership

Luigi Lovaglio served with notice by Milan prosecutors in probe linked to Mediobanca takeover

Lender backed by Italian state is close to securing majority support for its audacious takeover bid

The proceeds would help fund tie-up between Monte dei Paschi di Siena and Banco BPM