Advisers for Banca Monte dei Paschi di Siena and Banco BPM are reportedly exploring a merger that would involve both cash and shares, Bloomberg News reported on Monday.
According to Bloomberg, which cited sources familiar with the situation, the advisers are working on a deal structure that would give shareholders ownership stakes roughly in line with each bank’s current market value. The potential merger is being considered as a possible alternative to an existing offer for Monte dei Paschi from Intesa Sanpaolo.
Both Banca Monte dei Paschi di Siena and Banco BPM declined to offer any comment on the Bloomberg report. Reuters, which initially covered the story, was unable to independently confirm the details at the time of publication.
