MPS says bids for BPM and Banca Generali still stand
Monte dei Paschi di Siena said two announced buyout offers it made remain valid even if Intesa Sanpaolo takes control of Banca Generali.
Monte dei Paschi di Siena (MPS) said on Monday that the two buyout offers it has announced remain in place as it seeks to block a takeover bid from rival Intesa Sanpaolo. The bank said the offers cannot be revoked even if Intesa Sanpaolo gains control of the group. MPS is trying to fend off a €35 billion ($40 billion) cash-and-stoc…