Just when you thought it was finally dead, Banca Monte dei Paschi di Siena comes back to life. The story of this bank over the last decade has much in common with a bad horror movie. With UniCredit announcing its withdrawal from negotiations over the acquisition of the 500-year-old institution, there are clearly still more stomach-churning shocks to come.
The closest there is to an official reason as to why talks fell through is that Italy’s finance ministry couldn’t fulfil UniCredit’s pre-conditions for a transaction.
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