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No carve-up, please

25 August 2006 By Hugo Dixon

Credit Agricole and Santander have interests in Intesa/Sanpaolo IMI that go beyond their equity positions. In the tussle to secure veto rights and bank branches, lessconnected shareholders mustn t be shortchanged.

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Che sera, Passera?

24 August 2006 By Hugo Dixon

With over E1bn of annual synergies, there s huge value creation as well as the chance to build a E55bn Italian banking champion. But the deal only adds up if there s streamlined decisionmaking rather than fudged compromises. If not, interlopers may break it up.

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Cordial Intesa

17 February 2006 By Hugo Dixon

Otherwise, Intesa shareholders would be better off with the status quo where there s a chance of a bid premium from Credit Agricole. It would only make sense if the charitable foundation that controls Monte Paschi was substantially diluted.

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