The failure of the deal is likely to be officially announced on Sunday, news agencies Bloomberg and Reuters report on the basis of insiders.
Monte dei Paschi is largely in the hands of the Italian government after Rome bailed out the bank with billions in 2017 to prevent it from falling. A complex deal was negotiated for months in which Unicredit would acquire Monte dei Paschi and the Italian government would take a stake in Unicredit.
Monte dei Paschi has been around since 1472 and is located in Siena, Tuscany. About 21,000 people work there, who now remain in uncertainty for longer.
Monte dei Paschi acquisition by Unicredit may not go ahead | Financial
Source link Monte dei Paschi acquisition by Unicredit may not go ahead | Financial