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Intesa Sanpaolo Gets ECB Approval to Take Over Monte dei Paschi
Original: Intesa Sanpaolo Gets European Central Bank Approval to Take Over Monte Dei Paschi
Intesa Sanpaolo has received European Central Bank approval to take over Monte dei Paschi di Siena, advancing a long-awaited consolidation in Italy's banking sector. The deal would bring Italy's third-largest lender under the control of the country's biggest bank, closing a chapter on years of state-led rescue efforts for the Siena-based institution.
Why now: Regulatory approval is a major milestone in a high-profile rescue takeover of one of the world's oldest banks.
Intesa SanpaoloMonte dei Paschi di SienaEuropean Central Bank
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