Sabato, 22 Settembre 2018
MILAN

Unicredit denies it has any interest in merger with Intesa

English
© ANSA

Milan, November 5 - Italy's largest commercial bank
Unicredit denied rumours on Monday that it is interested in
merging with rival Intesa Sanpaolo.
"I have no comment," said the chief executive officer of
Unicredit, Federico Ghizzoni, in response to questions from
reporters Monday.
"We are going ahead on our own," Ghizzoni added.
A report last week in the newspaper Corriere della Sera set
off a flurry of rumours, which both banks have denied.
Italy's banks have all suffered from the global financial
crisis followed by the sovereign-debt crisis and the Italian
economic recession.
Both Unicredit and Intesa have responded by slashing
thousands of jobs and closing branches, yet they have still seen
their market value drop dramatically.
That could make either or both banks prey for a foreign
takeover.

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