|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)|
|1y Target Est||N/A|
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.
The CEO of Monte dei Paschi told directors on Monday the bailed-out Italian bank needs 1.5-2.0 billion euros ($1.7-$2.3 billion) in cash to avoid breaching capital requirements in the first quarter of 2021, a source with knowledge of the matter said. Italy rescued Monte dei Paschi (MPS) <BMPS.MI> in 2017 spending 5.4 billion euros on a 68% stake. The Tuscan bank's fate took centre stage, laying bare rifts within Italy's ruling coalition, after the conviction of three former executives forced MPS to set aside more than 400 million euros against legal claims last week, and withdraw a commitment to fund the managers' legal costs.