Italy's Intesa Sees 60% of Financial Benefits From Monte Dei Paschi Deal in 2028

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Italian banking giant Intesa Sanpaolo intends to realize 60 percent of the gross financial benefits from the planned acquisition of Monte dei Paschi di Siena (MPS) by 2028, and to achieve the full synergy effect by 2029, according to a document published by the financial institution.

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Intesa Sanpaolo has reported that it expects to reach a total of 2,900 million euros before taxes on synergies as a result of the acquisition operation on Banca Monte dei Paschi di Siena (MPS) and that it expects to reach this amount by 2029. Of these total synergies, 60% will be obtained for the financial year [...] The Intesa Sanpaolo entry hopes to reach in 2029 some 2,900 million in synergies with the acquisition of MPS appears first in Forb…