April 27, 2018 / 3:31 PM / a year ago

Intesa Sanpaolo not in talks with anyone for wealth management tie-up: CEO

MILAN (Reuters) - Intesa Sanpaolo (ISP.MI) is not in talks with anyone about a tie-up in wealth management as overly high multiples make it impossible to create value through a deal, Chief Executive Carlo Messina said on Friday.

The Italian lender has previously said it wanted to strongly grow its non-life insurance business and would consider partnering with a global player in asset management.

Reporting by Gianluca Semeraro, writing by Agnieszka Flak, editing by Francesca Landini

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