Unipol targets over 30% stake in new BPER-MPS banking entity
Unipol is seeking to own more than 30% of a proposed banking group combining BPER Banca with assets carved out from Monte dei Paschi di Siena, subject to Intesa Sanpaolo’s MPS takeover bid succeeding. The insurer agreed to buy a business covering about 635 MPS branches and key central functions for up to €3.5bn, planning a merger with BPER and a €2.5bn capital increase to fund the deal.