• Banks, Intesa Sanpaolo launches an offer of 4.9 billion on Ubi Banca

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February 19, 2020 "It is a market operation, there is an oops in progress, I cannot comment. It is certainly important that there is a consolidation of our banking system". This was stated by the Minister of Economy, Roberto Gualtieri, speaking of the Intesa San Paolo oops on Ubi. Faced with market operations, he added, speaking to Radio Capital, "it is good that politics is out". The banking system "has made progress and is in much more solid conditions," he said.

Today the board of Ubi
Spotlight today on the UBI Board of Directors which will meet to discuss the public exchange offer launched by Intesa Sanpaolo. For Carlo Messina, CEO of Intesa Sanpaolo, the offer on UBI is "a unique opportunity to create an even stronger European reality. The offer is not friendly in the technical sense of the term, but there was no way to do this operation in a different way "- explained the top manager - hoping for a positive response from UBI management and highlighting the qualities of CEO Victor Massiah and President Letizia Moratti, always attentive to ESG issues. The choice - he said - fell on UBI because "it is a solid, well-managed bank, a small Intesa Sanpaolo".

Then he added that the risk of executing the operation is "low" and that shared business models and values ​​will facilitate integration, and the operation "will have no cost to shareholders". A message to UBI management, led by Victor Massiah, who will now have to reply: "My approach is positive on management, on the partners and on all the people who work in UBI" - said Messina - "this is the my proposal "and" together we are stronger ".

Positive agreement on the stock exchange
Positive opening for Intesa Sanpaolo in Piazza Affari (+ 0.71% to 2.61 euros) after the race on the eve following the Ops launched on Ubi Banca (+ 0.42% at 4.33 euros). Bper rebounded among the securities involved (+ 2.37%) which will take over branches from Ubi for antitrust reasons, while Unipol (+ 0.04% at € 5.35) appears to be little move and will absorb its insurance activities.