Monte dei Paschi jump 6% on renewed M&A speculation

Il Sole 24 Ore SpA

09/01/2023 09:04

** Shares in Italy's Monte dei Paschi  BMPS.MI  jump over 6%
on renewed speculations of a possible tie-up fuelled by an
interview of the bank's CEO on Saturday, a Milan-based trader
says
    ** Lovaglio said to Italian daily Il Sole 24 Ore the
state-owned bank could be "the kingpin" of further consolidation
in Italy's banking system
    ** Lovaglio also underlined that the bank's value is now at
a discount compared to competitors
    ** With today's jump Monte dei Paschi's shares return firmly
above the latest cash call price of 2 euro per share, at 2.08
euro
    ** At 0847 GMT shares in Monte dei Paschi are up 4.6%,
outperforming Italy's bank sub-index  .FTITLMS3010 , which rises
0.6%
 (Carlo Giovanni Boffa and Giancarlo Navach, editing by Alvise
Armellini)
 ((Carlogiovanni.boffa@thomsonreuters.com))