BANCA MONTE DEI PASCHI DI SIENA S.P.A. Italian treasury is considering mergering Banca Carige S.p.A. - Cassa di Risparmio di Genova e Imperia (BIT:CRG), Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) and Unione di Banche Italiane S.p.A. (BIT:UBI) as it scrambles to avert a new banking crisis, sources familiar with the matter said. According to one of the sources, the options being considered even include the possibility of a three-way merger that would bring together Monte dei Paschi, Carige and UBI. The banks and the Italian treasury declined to comment.
Discussions are at a very early stage and no final plan has been drawn up by the anti-establishment government. “For Monte dei Paschi the main option is a tie-up with UBI,” one government source said. UBI Chief Executive Officer, Victor Massiah has repeatedly denied any interest in Monte dei Paschi, even though sources have said it explored the idea in the past.
