Mediocredito Centrale Wants Look at Paschi’s Books, Sole Says
Mediocredito Centrale Wants Look at Paschi’s Books, Sole Says
(Bloomberg) --
Italy’s MedioCredito Centrale SpA is preparing to enter Banca dei Monte dei Paschi di Siena SpA’s data room, Il Sole 24 Ore reported on Saturday.
State-controlled MCC would join UniCredit SpA, which started talks to acquire a “defined perimeter” of Paschi’s operations from the Italian finance ministry in late July. MCC would particularly look at Paschi’s branches in Southern Italy, where UniCredit is already strong.
On Friday, Il Messaggero reported that UniCredit may exclude Paschi’s investment and corporate banking arm from its purchase.
Paschi was acquired by Italy as part of a state bailout in 2017, while MCC is owned by Italy’s development agency Invitalia, which in turn is owned by the country’s finance ministry.
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