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News

Shares in Italian bank Carige fall after BPER picked for rescue deal

(Refiles to add name of Italian banking fund in para 2) * Deal would address longstanding banking headache * BPER on expansion path, to become No.4 bank by assets * Deal to cost healthy lenders 530 mln euros * Carige shares plunge 10.5%, BPER shares up By Andrea Mandala and Valentina Za MILAN, Jan 11 (Reuters) - Shares in Italian bank Carige CRGI.M
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Italian banking fund meets to pick Carige's buyer

By Andrea Mandala and Valentina Za MILAN, Jan 10 (Reuters) - The Italian fund that owns Carige CRGI.MI will meet on Monday to pick a buyer for the bank from among three suitors, with which to negotiate a sale it hopes will end a seven-year crisis at the ailing lender. Carige and bigger rival Monte dei Paschi di Siena BMPS.MI are the two main bankin
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UniCredit's Orcel pledges profitable new chapter for Italian bank

(Refiles to correct to "this week" in lead) * Unveils business plan on Dec. 9 under new CEO Orcel * Markets expect extraordinary share buyback * Under pressure to revive revenue and profit * To bet on digital integration with product suppliers By Valentina Za MILAN, Dec 6 (Reuters) - Andrea Orcel must convince UniCredit CRDI.MI investors that he ca
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Italy's Banco BPM to take insurance in-house in new plan

* Aiming for net profit of more than 1 bln euros in 2024 * Q3 net profit 110.7 mln euros vs forecast 78 mln * CEO says happy to go it alone, but will monitor M&A By Andrea Mandala and Valentina Za MILAN, Nov 5 (Reuters) - Italy's Banco BPM BAMI.MI said on Friday it planned to acquire full ownership of its insurance partnerships as part of a new mul
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Italy, UniCredit in deadlock over MPS as deadline nears

* Size of MPS cap hike seen as main hurdle to a deal -sources * Negotiators say UniCredit capital demands hard to meet -sources * Orcel studied Banco BPM takeover before MPS talks -sources * Italy must cut 64% MPS stake at latest by mid-2022 By Valentina Za, Pamela Barbaglia and Giuseppe Fonte MILAN, Oct 22 (Reuters) - UniCredit boss Andrea Orcel a
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Banks grant Lavazza 500 mln euro loan for green projects

MILAN, Sept 21 (Reuters) - A pool of Italian banks has granted a 500-million euro ($587 million) loan to Lavazza to fund projects aimed at making the coffee maker more sustainable, a statement issued by the lenders said on Tuesday. BNP Paribas's BNL, Banco BPM and Intesa Sanpaolo have acted as mandated lead arrangers and lenders in the transaction
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Monte dei Paschi capital would be wiped out by slump, EU bank stress test shows

* No pass or fail mark in test * Monte dei Paschi fares worst in EBA stress test * Sweden's banks among best peformers * Deutsche Bank, SocGen, Commerzbank below aggregate level By Huw Jones, Valentina Za and Jesús Aguado LONDON July 30 (Reuters) - All of Monte dei Paschi's capital would be wiped out by a long slump, a European Union stress test o
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Unipol's move opens new chapter in Italian banking M&A saga

* Unipol turns to Pop Sondrio in hunt for BPER partner - sources * Merger talks between BPER and Banco BPM stranded - sources * Lack of alternatives may push Banco into UniCredit's arms - sources * Treasury still working to ease UniCredit-MPS-Banco deal - sources By Valentina Za, Andrea Mandala and Giuseppe Fonte MILAN, June 1 (Reuters) - A small i
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Italy opts not to raise incentives for bank mergers

ROME, May 20 (Reuters) - Italy on Thursday dropped a mooted measure lifting a cap on tax incentives for bank mergers from a broader economic stimulus package, Economy Minister Daniele Franco said. The original proposal of the measure by the Treasury had boosted the merger appeal of Banco BPM, Italy's third-largest bank, fuelling investor bets about
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Italy opts not to raise incentives for bank mergers, hitting shares

* Proposal had raised chance of UniCredit takeover of Banco BPM * Rome may re-propose the scheme at a later date, a source says * Treasury wants draft solution for troubled Monte Paschi by July (Recasts with confirmation and details after news conference) By Giuseppe Fonte, Valentina Za and Andrea Mandala ROME, May 20 (Reuters) - Italy dropped a mo
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Italy considers extending tax breaks for bank mergers, bad loan sales

* Tax breaks seen as key for bank consolidation in Italy * Draft bill extends measure by six-months, boosts size * Tax breaks for bad loan sales could also be prolonged By Giuseppe Fonte and Valentina Za ROME, May 4 (Reuters) - Italy is considering extending to mid-2022 tax breaks that are expected to spur on mergers in the fragmented banking secto
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Italy to push ahead with Monte dei Paschi sale under Draghi - source

* Monte dei Paschi di Siena needs 2.5 bln euros in capital * Italy ready support it but wants to seal merger first * Bank faces deadline to have auditors sign off on earnings By Giuseppe Fonte and Valentina Za ROME, Feb 23 (Reuters) - Italian Prime Minister Mario Draghi's new government aims to deal with problem bank Monte dei Paschi BMPS.MI by pus
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Italy's BPER needs time before M&A deal, bank's top investor says

MILAN, Feb 12 (Reuters) - BPER Banca EMII.MI in the coming months will focus on integrating branches it bought from Intesa Sanpaolo ISP.MI while merger plans will have to wait, the top investor in the Italian bank said on Friday. Italian banking shares have been rising on the prospect of consolidation spurred by tax incentives the government has in
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Orcel's arrival at UniCredit shakes up match-making among Italy's banks

* Rising M&A expectations lift Italian banking stocks * Orcel set to weigh alternative M&A options to MPS * Banco BPM seen as a potential target * Takeover threat could hasten merger talks with BPER By Valentina Za, Andrea Mandala and Giuseppe Fonte MILAN, Feb 12 (Reuters) - The arrival of star dealmaker Andrea Orcel at the helm of UniCredit CRDI.M
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UniCredit board to appoint Orcel as Monte dei Paschi searches for saviour

* Orcel set to take over as CEO in mid-April - sources * Mustier expected to leave after 2020 results on Feb. 11 * Change of guard complicates MPS deal for Treasury By Valentina Za, Giuseppe Fonte and Jesús Aguado MILAN, Jan 27 (Reuters) - UniCredit's board will designate Andrea Orcel as the bank's new chief executive on Wednesday, two sources tol
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Monte dei Paschi struggles to lure suitors to data room - sources

* Treasury hopes to win time from ECB to seal merger deal * Preferred bidder UniCredit still debating course of action * Government weakened after junior party quits coalition By Giuseppe Fonte and Valentina Za ROME/MILAN, Jan 20 (Reuters) - State-owned Italian bank Monte dei Paschi di Siena BMPS.MI has seen no potential bidders come forward yet to
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Monte dei Paschi struggles to lure suitors to data room - sources

* Treasury hopes to win time from ECB to seal merger deal * Preferred bidder UniCredit still debating course of action * Government weakened after junior party quits coalition By Giuseppe Fonte and Valentina Za ROME/MILAN, Jan 20 (Reuters) - State-owned Italian bank Monte dei Paschi di Siena BMPS.MI has seen no potential bidders come forward yet to
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