Govt neutral on Intesa SanPaolo's bid for MPS says Giorgetti

Economy Minister Giancarlo Giorgetti

said Thursday that the government would remain neutral regarding

Intesa Sanpaolo's bid to take over Monte dei Paschi di Siena

(MPS), although he did not rule conditions being attached to the

operation if it goes through.

"We are neutral, but the Golden Power (authority) will make an

assessment and, theoretically, it may also be necessary to

evaluate whether, under those conditions, there are any

requirements needed," Giorgetti told lawmakers during hearing.

"There may be requirements, especially to ensure

competitiveness, assistance to SMEs, and the presence of

competition at the local level".

The economy ministry has a stake of close to 5% in MPS following

a 2017 State bailout.

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