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Intesa to launch buyout offer for Mediobanca as soon as MPS bid settled

By Reuters News

MILAN, Nov 3 (Reuters) - Intesa Chief Executive Carlo Messina tells analysts on a post-earnings call:


  • We don't see competition on deposits

  • Don't expect any kind of stress on deposits also in coming quarters

  • To launch mandatory offer for Mediobanca as soon as MPS offer settled

  • Italian bond spreads more likely to move due to fallout from France or U.S. rather than endogenous reasons

  • Planning to shield staff from any impact from 'crazy attitude in the budget law' about reducing banks' net income

  • If any branches to be sold on top of those in Unipol deal it would be to a different buyer

  • We consider unlikely that we need to sell additional branches in MPS deal other than those agreed with Unipol

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