by Amruth Sundarkumar | Nov 10, 2021 | Banks
Italy’s UniCredit will sell its remaining 20% stake in Turkey’s Yapi Kredi Bank by end-March 2022. UniCredit will sell 18% of its stake to Turkey’s Koc Holding for €300mn ($347mn) while the remaining 2% will be sold in the open market. As per...
by Amruth Sundarkumar | Oct 25, 2021 | Banks
Italian banks UniCredit SpA and Banca Monte dei Paschi di Siena SpA announced via a joint statement on Sunday that they are no longer in discussion for the former to absorb the latter. As per people familiar with the matter, the Italian government and UniCredit could...
by Amruth Sundarkumar | Aug 11, 2021 | Banks
UniCredit is expected to assume Banca Monte dei Paschi’s junior debt liabilities as part of the deal to takeover the bank from the Italian government. The news comes as UniCredit and the Italian government are negotiating a deal to sell the government’s...
by Amruth Sundarkumar | Aug 2, 2021 | Banks
European banks BNP Paribas, BBVA and UniCredit Reported upbeat earnings results: French banking major BNP Paribas reported net income of €2.9bn ($3.4bn) in Q2, a 27% YoY jump. Its domestic markets division saw revenues rise ~10% while investment banking (IB) reported...
by Amruth Sundarkumar | Jul 16, 2021 | High Yield Bonds
FT reports that merger prospects between UniCredit and Banca Monte Paschi dei Sienna (BMPS) are receding after the Italian government refused conditions attached by UniCredit’s new CEO Andrea Orcel. Orcel’s demands were considered too costly despite the Treasury...
