Italian lender Intesa Sanpaolo is reportedly keen to acquire an internationally recognisable wealth management brand with a market value of up to EUR15bn.
"I want have the control of this entity after the acquisition so my target is in the range of my private banking division value or lower," the bank’s CEO Carlo Messina said in an interview to Bloomberg Television in London.
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"Intesa’s private banking division is valued at EUR10bn ($11.4bn) to EUR15bn, depending on price-earnings or price-to-book value," he said.
"A strategic target could be an international brand to have an international diversification through the wealth management activity.
Messina, however, added that "nothing is on the table."
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