Italian banks set for merger deal

TURIN/MILAN: Italy's Sanpaolo bank has hired Milan-based Twister Communications to steer to completion a deal to create the ­country's second-largest bank.

Twister is representing the Turin-based bank in its proposed merger with Banca Intesa of Milan, expected to be completed next year. The deal will create an institution worth around £43bn.

Agency MD Gabriele Lucentini heads the account, ­reporting to Sanpaolo chairman Enrico Salza. Banca Intesa is using its in-house comms team.

City watchers believe the merger could prompt a wave of Italian activity in this area, with the country's fourth-largest bank, Capitalia, expected to be a target.

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