Italy Won’t Take Sides on Paschi, Says It’s All About the Money

Italy’s Finance Minister Giancarlo Giorgetti indicated the government won’t interfere in any battle for control of Banca Monte dei Paschi di Siena SpA, saying price will determine whether Banco BPM SpA or Intesa Sanpaolo SpA prevail.

Giorgetti said the issue will come down to “whoever pays more.” The remarks Monday, first reported by Repubblica and confirmed by the ministry, come just hours after a flurry of banking announcements Sunday and Monday. Intesa offered to buy Monte Paschi for €30.6 billion ($35.3 billion), a day after BPM pitched a merger of equals.

Giorgia Meloni’s government remains largely neutral on ...