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Intesa Sanpaolo not eyeing banks
Intesa Sanpaolo, Italy’s biggest retail bank, is not eyeing Banca Monte dei Paschi (MPS) di Siena or other Italian banks, its chief executive said in an Italian newspaper yesterday. MPS needs to find €3.3bn by the end of June to meet tougher capital requirements and it could become a takeover target. Sources said the foundation controlling 46 per cent of MPS may have to sell a 10-15 per cent bank stake.