Reuters exclusively reports Italy considering extending bank merger incentives to mid-2022

Reuters exclusively reported that Italy’s Treasury is considering extending by six months tax breaks for corporate mergers it first introduced to entice a buyer for troubled state-owned bank Monte dei Paschi di Siena (MPS). The scheme applies to all companies, but it benefits mostly banks and is a key plank of an incentive package the Treasury has tabled to sell MPS to stronger rival UniCredit. The extension would give UniCredit more time to approve the purchase of “selected parts” of MPS it has been discussing with the Treasury since early August.