Intesa executive denies talk of Monte Paschi tie-up

Reuters

MILAN (Reuters) - Market rumours about any kind of tie-up between Italy's biggest retail bank Intesa Sanpaolo (MIL:ISP) and struggling domestic rival Monte dei Paschi di Siena (MIL:BMPS) are groundless, the head of Intesa's management board said on Thursday.

"Rumours ... with respect to any form of combination involving Intesa Sanpaolo and Banca Monte dei Paschi di Siena are entirely groundless," management board chairman Gian Maria Gros-Pietro said in a statement.

(Reporting by Silvia Aloisi, editing by Valentina Za)

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