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Italy's Carige also interested in Monte branches.

Global Banking News-19 October 2009-Italy's Carige also interested in Monte branches(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 19 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Italian regional bank Banca Carige SpA (CRG.MI) has expressed interest in the branches being sold by Banca Monte dei Paschi di Siena SpA (BMPS.MI), Dow Jones has reported citing a report by Il Messaggero.

Carige, which is set for a road show to promote the issue of a covered bond, has reportedly made an expression of interest for about 30 of the 135 branches on sale.

Carige joins Barclays Plc (LSE: BARC) (NYSE: BCS), Deutsche Bank AG (NYSE: DB) (DBK.XE) of and Italy's Intesa Sanpaolo SpA (ISP.MI) (ISE: ISP) among those looking at buying the branches.

Monte Paschi executive Antonio Vigni has said last week that the bank has received several offers for the branches, without identify the names of the bidders. Vigni said that the bank expects to sell all of the branches by mid-December, the deadline set by the country's antitrust authorities in exchange for approving the bank's purchase of Italy's Banca Antonveneta.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Oct 19, 2009
Words:215
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