Intesa Chief Executive Carlo Messina tells analysts on a post-earnings call: We don't see competition on deposits Don't expect any kind of stress on deposits also in coming quarters To launch mandatory offer for Mediobanca as soon as MPS offer settled Italian bond spreads more likely to move due to fallout from France or U.S. rather than endogenous reasons Planning to shield staff from any impact from 'crazy attitude in the budget law' about reducing banks' net income If any branches to be sold on top of those in Unipol deal it would be to a different buyer We consider unlikely that we need to sell additional branches in MPS deal other than those agreed with Unipol