Intesa Sanpaolo (OTCPK:IITSF)
$ 3.915 0.07 (1.82%) Market Cap: 69.89 Bil Enterprise Value: 128.68 Bil PE Ratio: 7.33 PB Ratio: 0.98 GF Score: 69/100
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Intesa Sanpaolo SpA to Discuss Combination with Unione di Banche Italiane SpA Call Transcript

Feb 18, 2020 / 09:30AM GMT
Release Date Price: $2.81 (+2.06%)
Operator

Good morning, ladies and gentlemen, and welcome to the conference call of Intesa Sanpaolo for the presentation of the combination with UBI Banca hosted by Mr. Carlo Messina, Chief Executive Officer. My name is Cecilia, and I will be your coordinator for today's conference. (Operator Instructions) Today's conference is being recorded.

At this time, I would like to hand the call over to Mr. Carlo Messina. Sir, you may begin.

Carlo Messina
Intesa Sanpaolo S.p.A. - MD, CEO, GM & Executive Director

So good morning. I'm here with Stefano Del Punta, our CFO; Paolo Grandi, our Chief Governance Officer and Head of M&A; and Stefano -- and Marco Delfrate and Andrea Tamagnini, Head of Investor Relations Officer.

So we surprised you by launching a voluntary change offer on UBI Banca. That's for sure. But we considered this deal to be a unique opportunity to create an even stronger European leader that leverages a stronger Italian footprint. We believe this transaction will create value for all the stakeholders of both banks.

But before

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