|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.6000 - 0.6000|
|52 Week Range||0.4920 - 1.2700|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
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Tax breaks promoted by Italy's Treasury to spur bank mergers and lure a potential buyer for state-backed Monte dei Paschi di Siena are triggering mounting opposition in the ruling coalition, lawmakers said. The scheme, due to be approved by parliament by the end of the year as part of the 2021 budget, allows banks merging next year to lower their tax burden by turning so-called deferred tax assets (DTAs), worth billions of euros, into tax credits.
UniCredit is working with strategic advisers Goldman Sachs and JPMorgan, three people close to the matter said, as it prepares to update its business plan next year and weighs a potential acquisition of state-owned peer Monte dei Paschi. Italy is seeking a buyer for Monte dei Paschi (MPS) which it rescued in 2017 spending 5.4 billion euros ($6.4 billion) for a 68% stake, which it is now looking to cut with help from advisers Bank of America and Orrick. UniCredit had been identified as the ideal partner given its robust balance-sheet but smaller rival Banco BPM also remains a possibility, people familiar with the matter have said.
Italy's Treasury has asked financial and legal advisers to pitch for a role in the privatisation of Monte dei Paschi <BMPS.MI> as it strives to secure a merger deal for the Tuscan lender, two sources familiar with the matter told Reuters on Friday. Rome owns 68% of Monte dei Paschi (MPS) after a 2017 bailout and must cut that stake by mid-2022 at the latest. Defying growing political and union pressure to delay an exit, the Treasury is pushing ahead with efforts to lure buyers.