Intesa Sanpaolo Launches Takeover for Smaller Rival UBI Banca.

(Bloomberg) -- Intesa Sanpaolo SpA launched a takeover bid for its mid-sized rival Unione di Banche Italiane SpA in a sign of the long-predicted consolidation among Italian banks. Intesa said it expects to finalize the transaction, involving a voluntary offer for all UBI's shares, by the end of 2020. [Extracted from the article]

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