Intesa Sanpaolo Gets ECB Approval to Take Over Monte dei Paschi
Intesa Sanpaolo said the ECB authorized it to take control of Banca Monte dei Paschi di Siena, clearing a regulatory obstacle to its 31.4 billion euro ($34.93 billion) takeover offer.
By Michael HennesseyIntesa Sanpaolo said it received authorization from the European Central Bank to take control of Banca Monte dei Paschi di Siena, removing a key regulatory obstacle for the Italian bank's 31.4 billion euros ($34.93 billion) takeover offer.The green light from the ECB grants appr…