The Italian post workplace denied on Sunday a report it
absolutely was curious about merging with troubled Tuscan investor Banca cards
dei Paschi di Siena (BMPS.MI).
"Poste Italiane states none of the merger or
acquisition ideas proposes (in the report) with relation to the restructuring
of the banking sector ar a part of its plans," the cluster same.
Italian newspaper La Repubblica same on Sunday that Rome
was viewing a doable tie-up of the post office's banking division and cards dei
Paschi once tries to engineer a trilateral merger with cooperative banks fell
through.
The paper same the operation might involve different parties
too.
Last week sources same Italian authorities were exploring a
merger of cards dei Paschi with UBI Banca (UBI.MI) and
Banca Popolare di metropolis (PMII.MI) to form a national
champion.
Monte dei Paschi is probing for a partner to support its
record and facilitate it address a pile of sour loans that has spooked
investors and wiped forty five p.c off its share worth since the beginning of
the year.
The government, that owns sixty four.7 p.c of the post
workplace, incorporates a tiny stake within the Tuscan investor. it's seeking
to accelerate consolidation of the banking sector to create it a lot of
economical.
"Rumours that the cluster (the post office) is curious
about shopping for cards dei Paschi ar completely idle," a Treasury supply
same on Sunday.
Poste Italiane, that makes regarding eighty p.c of its
revenue from money and insurance merchandise, denied similar press rumours of a
merger with cards dei Paschi earlier this month.
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