Intesa’s Messina Braces for Bidding War Over Monte Paschi (1)

Intesa Sanpaolo SpA Chief Executive Officer Carlo Messina signaled he’s prepared to address any counterbids for Banca Monte dei Paschi di Siena SpA, after unveiling an offer that valued the world’s oldest bank at more than €30 billion ($35 billion).

“The transaction will ultimately be decided by the price that is paid,” Messina said in an interview on Bloomberg TV Tuesday. “If someone is prepared to offer more than we are offering, then there could be competition.”

Messina on Monday surprised markets by offering to buy Monte Paschi, a deal that would cement Intesa’s dominant role at home, expand ...