MILAN, Jan 15 (Reuters) - UniCredit said on Thursday that recent rumours over a possible interest in buying a stake in Banca Monte dei Paschi di Siena were "speculative in nature and unjustified",
UniCredit dismisses rumours of interest in MPS stake
UniCredit's Position on MPS Stake
MILAN, Jan 15 (Reuters) - UniCredit on Thursday dismissed as "speculative in nature and unjustified" rumours of it being interested in buying a stake in Banca Monte dei Paschi di Siena.
Speculation and M&A Strategy
UniCredit said that it constantly assesses M&A options and that analysis of potential acquisition targets and discussions with relevant parties were no indication that a deal would follow.
Current Market Context
Three people close to the matter told Reuters on Monday that UniCredit CEO Andrea Orcel had expressed interest in the Monte dei Paschi (MPS) stake held by Delfin in meetings with the head of the Italian holding company, Francesco Milleri.
The sources said UniCredit was also potentially interested in Delfin's stake in insurer Generali.
UniCredit said in a statement that it was the job of its internal M&A team to study all possible growth options, including external ones.
"This at any one time will involve discussions with, and assessment and analysis of, the target in question, none of which is indicative of the likelihood of a transaction taking place," it said.
In expressing its disappointment about "recent rumours and constant noise" about its alleged interest in the MPS and other stakes, Italy's second-largest bank said that, at present, these were "pure invention" and served no purpose other than distorting and confusing the market.
Under veteran M&A banker Orcel, UniCredit has worked to deploy part of its large reserves of capital to buy stakes in Germany's Commerzbank and Greece's Alpha Bank, but it has failed so far to clinch a merger.
(Reporting by Valentina ZaEditing by Gianluca Semeraro and David Goodman)
