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Intesa’s Messina Turns Dealmaker to Create Italian Champion (1)

Feb. 19, 2020, 8:28 AM

Carlo Messina may seem like an unlikely deal maker to kick off the inevitable wave of Italian bank mergers.

Having failed three years ago to combine with insurer Assicurazioni Generali SpA, the 57-year-old Intesa Sanpaolo SpA chief on Monday made the boldest move of his career with an unsolicited offer for Unione di Banche Italiane SpA that will create a national champion and keep a prized wealth manager out of the hands of competitors. The bid would also avert the risk of his bank being asked to buy Banca Monte dei Paschi di Siena SpA, the emblem of...

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