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Intesa Sanpaolo: approval for takeover of UBI Banca

(CercleFinance.com) - Intesa Sanpaolo said on Friday that it had received the go-ahead from the Italian competition authority for the acquisition of its competitor UBI Banca, subject to the completion of certain structural divestments.


For the record, on 17 February, the Italian bank announced a voluntary public exchange offer for a maximum of just over 1.14 billion UBI Banca shares, which should enable it to take control of the bank.


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