Intesa: no delays to the Opas Mps due to discussions with Consob or the Siena OPA

(Il Sole 24 Ore Radiocor) - The ‘routine’ discussions between Consob and Intesa Sanpaolo are ‘characterised by the utmost transparency and cooperation’ and ‘will not slow down the ongoing process’ of the public takeover bid for MPS. This is according to sources working on the case, who emphasise that Intesa ‘will respond to the clarifications requested in order to finalise the approval process for the offer document as soon as possible, within the scheduled timeframe’. The same sources therefore believe that Intesa’s OPAS ‘will be able to proceed as normal and without any interference from the two OPAS announced by MPS’. The latter, the sources indicate, “will have no effect in the absence of authorisation by the MPS shareholders’ meeting” in light of the passivity rule, and ‘it cannot be ruled out’ that they will be the ones to ‘face delays and suspensions, given the numerous critical issues regarding authorisation and the additional elements highlighted in the complaints submitted by Intesa Sanpaolo and consumer associations to the authority’.

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