米兰，10月27日电 - 意大利最大银行意桑银行周二表示，已获得欧洲央行授权，可控制锡耶纳蒙特帕斯基银行（MPS），这是其发起320亿欧元（约合360亿美元）收购要约的关键一步。
MILAN, Oct 27 - Italy's biggest bank Intesa Sanpaolo said on Tuesday it had received the European Central Bank's authorisation to take control of Monte dei Paschi di Siena, in a major step towards launching its €32 billion ($36 billion) takeover offer.
虽然这一结果在预料之中，但欧洲央行的批准标志着意桑银行现金加股票收购要约审批进程中的重要里程碑。
While widely expected, the ECB's green light represents a key milestone in the approval process for Intesa Sanpaolo's cash-and-share bid.
关注焦点现在转向意大利市场监管机构Consob，预计该机构将于下月初批准要约文件，随后是意大利反垄断机构，其决定预计将在11月下半月出炉。
Attention now turns to Italy's markets regulator, Consob, which should approve the offer document early next month, followed by the country's antitrust authority, whose decision is expected in the second half of November.
一旦Consob批准要约，意桑银行即可启动要约收购期，无需等待反垄断决定，投资者仍有时间在为期数周的要约期结束前评估该决定。竞争监管机构的裁决可能具有重要意义。
Once Consob approves the offer, Intesa can kick off the tender phase without waiting for the antitrust decision, which investors will still have time to assess before the closure of the period, which runs over several weeks. The competition watchdog's ruling could be significant.
为消除潜在反垄断异议，意桑银行已同意将MPS一半的分支机构出售给保险公司Unipol，后者将把这些分支机构与中型银行BPER的分支机构合并。
To head off any antitrust objections, Intesa has already agreed to sell half of MPS's branches to insurer Unipol which will merge them with those of mid-sized bank BPER.
知情人士此前曾告诉路透社，意桑银行可能不得不比Unipol协议设想的多出售几十家分支机构。
Intesa may have to sell a few dozen more than envisaged by the Unipol accord, people close to the matter have previously told Reuters.
意大利另一家重量级竞争对手意大利联合信贷银行表示，有意收购同业合并过程中出售的资产。
Rival Italian heavyweight UniCredit has said it is interested in assets coming up for sale as peers merge.
然而，反垄断机构也在审查保险市场的情况，意桑银行在寿险业务中与忠利保险竞争。
However, the antitrust authority is also reviewing the situation in relation to the insurance market, where Intesa competes with Assicurazioni Generali in the life business.
通过收购MPS（后者去年收购了忠利保险的第一大股东中意银行），意桑银行将间接持有忠利保险13.4%的股份。欧洲央行周二还授权意桑银行间接控制中意银行。
By acquiring MPS, which last year bought Generali's top shareholder Mediobanca, Intesa will come to indirectly own 13.4% of Generali. The ECB on Tuesday also authorised Intesa to take indirect control of Mediobanca.
意大利竞争监管机构负责人萨韦里奥·瓦伦蒂诺上周表示，该机构可能需要对意桑银行实施“行为补救措施”，以确保其持有的忠利保险股份仅为纯金融投资。
The head of Italy's competition watchdog, Saverio Valentino, said last week the authority may need to impose "behavioural remedies" on Intesa to ensure that the Generali stake remains a purely financial investment.
意大利联合圣保罗银行（Intesa）表示，并不打算对忠意保险（Generali）施加任何控制。周二，首席执行官卡洛·梅西纳（Carlo Messina）表示，该行致力于维护忠意保险的独立性。
Intesa has said it does not plan to exert any control over Generali. On Tuesday, CEO Carlo Messina said the bank was keen to protect Generali's independence.
然而，意大利联合圣保罗银行需要董事会席位，以证明其能够对该保险公司施加重大影响。该行打算采用“权益法核算”这一会计方法将该股权入账，而这种做法需要上述证明。
However, Intesa needs board representation to prove it can exert significant influence over the insurer. Such proof is required to book the stake, as Intesa intends to do, using an accounting method known as 'equity consolidation'.