As Italy’s largest banks get ready to report results, what matters most to investors isn’t profit or revenue. It’s deals.
The country’s lenders have been swept up in a wave of proposed transactions that could result in a fundamental transformation of the industry. But a complex of cross-holdings, alliances and sometimes conflicting interests means that movement on one deal has repercussions for the rest.
The potential deal value amounts to more than €140 billion in combined market capitalizations, according to