Unicredit’s takeover talks of Italy’s Monte dei Bacchi fail

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Talks between the Italian government and Unicredit over the latter’s acquisition of the collapsed Monte dei Pacchi di Sina bank failed, according to a statement published today.

The talks failed due to disagreements about an additional injection of capital to the Monte dei Bacchi Bank and about the business to be transferred to Unicredit, according to “German”

It is noteworthy that the Monte dei Bacchi Bank, which is several hundred years old, represents the largest restructuring process in the Italian banking sector.

The Italian government and Unicredit have been negotiating for months over the details of a complex deal that will eventually mean the dissolution of Monte dei Bacchi, in which the Italian government has held a majority stake since 2017, and the Italian government must give up its stake in the bank by the end of the year at the request of the European Union.

Banking sources stated that the disputes focused primarily on the subsequent operations to recapitalize the troubled bank, and there was talk in this regard about the seven billion euros that the bank needs before transferring its business to Unicredit, and this amount is three times what the Italian Ministry of Finance expected.





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