logo
Plus   Neg
Share
Email

Intesa Sanpaolo Obtains Antitrust Approval For UBI Banca Offer

Intesa Sanpaolo (ISNPY.PK,IITSF.PK) said that the Italian Competition Authority authorized the acquisition of control of UBI Banca subject to the execution of structural sales.

Intesa reportedly agreed to sell more than 530 branches to BPER Banca, if the offer goes through, to win antitrust approval.

Earlier this month, Intesa launched an offer to exchange about 1.7 Intesa shares for each UBI stock.

UBI reportedly rejected the offer as inadequate.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering more tech deals at Black Friday prices starting Thanksgiving. Further, Cyber Monday offers will be available all week long, starting Saturday, November 28. The electronics retailer said the Thanksgiving offers for brands such as Apple, Dyson, KitchenAid and more will be available at BestBuy.com since its stores are closed for the day. Walt Disney Co. plans to lay off 32,000 workers in the first half of fiscal 2021 as the media and entertainment giant struggles to operate amid the worsening coronavirus pandemic. In a filing with the Securities and Exchange Commission, the company said the expected cuts will be primarily at Parks, Experiences and Products. Supermarket chain Whole Foods Market, owned by e-commerce giant Amazon, has recalled packaged popcorn chicken with sweet chili sauce citing the possible presence of undeclared shellfish or shrimp, an allergen, the U.S. Food and Drug Administration said. The affected products were sold across 26 Whole Foods Market locations in Northern California and Reno, Nevada.
Follow RTT