UBI Banca shares jump after Intesa $5.44 billion takeover offerChristian Fernsby ▼ | February 19, 2020
Shares of Unione di Banche Italiane, or UBI Banca, surged in trading yesterday morning following a surprise offer made by larger peer Intesa Sanpaolo on Monday night to buy the Italian lender.
Acquisition UBI Banca
Topics: UBI Banca Intesa takeover
Intesa plans to delist UBI Banca, which is the fourth largest banking group in Italy by number of branches, with a market share of about 7%.
Shares of UBI Banca at 0844 GMT were up 26% to EUR4.40, while Intesa Sanpaolo shares traded 1.6% higher at EUR2.58. ■