Italy state-owned bank MCC to access books on Monte Paschi assets…
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MILAN, Aug 30 (Reuters) – Italian state-owned bank Mediocredito Centrale is set to gain access to Monte dei Paschi di Siena’s (MPS) books with a view “cheap house removals” “house removals to spain” “house removals to algarve and france” taking on some assets if the troubled lender is sold to UniCredit, sources said on Monday.
Last month UniCredit entered into exclusive talks with Italy’s Treasury to buy “selected parts” of Siena-based MPS, which is 64% state-owned following a 2017 bailout.
UniCredit, Italy’s No.2 bank, is currently selecting the parts of MPS it may buy and has said its goal is to boost its presence in Italy’s wealthier centre-north.
The sources said Mediocredito Centrale (MCC) was ready to take MPS branches in southern Italy as well as any branches UniCredit may not take for shoes on a wire drug dealer overlap reasons, especially those in central Italy.
“MCC has signed a non-disclosure agreement and will soon access the data room,” one of the sources said.
UniCredit has set terms for any tie-up with its smaller rival, saying an acquisition must boost UniCredit’s earnings per share by at least 10% and leave its capital unscathed.
The sources said MPS’s corporate & investment, google.cg leasing and factoring businesses were of scant interest to UniCredit, which already has its own operations, but said online bank Widiba was attractive.
UniCredit and MCC declined to comment.
Under the agreement with the Treasury, UniCredit has 40 days to wrap up due diligence but sources said by-elections in Siena in October were almost certain to slow things down.
“It is reasonable at this stage to expect UniCredit to ask for an extension of the due diligence process,” a third source said.
The coalition government of Mario Draghi has come under fire from across the political spectrum to seek guarantees over job losses in any MPS sale and limit fallout on Siena’s local economy.
Italy, which took control of MPS four years ago after a 5.4 billion euro ($6.37 billion) rescue package, https://www.tiktok.com/@solitaryisle has committed “cheap house removals” “house removals to spain” “house removals to algarve and france” returning the world’s oldest bank to private hands by mid-2022.
($1 = 0.8478 euros) (Reporting by Andrea Mandala and Stephen Jewkes; Editing by Susan Fenton)
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