Weekly Recap: €1.5bn savings plan and capital increase to fund €35bn bid
Intesa Sanpaolo S.p.A. (MIL:ISP) is pressing ahead with a €35.7bn share-and-cash offer—backed by a €35bn capital increase vote—for Monte dei Paschi while cutting costs with €1.5bn pre-tax savings and 6,800 voluntary departures, and planning strategic expansion and cooperation in Egypt.Previous Week…