Intesa shareholders back share issue for UBI deal

MILAN (Reuters) - Shareholders in Intesa Sanpaolo on Monday approved issuing new shares to support plans by Italy's biggest retail bank to take over smaller rival UBI Banca .Shortly before the COVID-19 contagion emerged in Italy in February, Intesa announced a surprise all-share offer for UBI, to create the euro zone's seventh-largest banking group with a focus on asset management and insurance.Intesa, whose annual general meeting was held behind closed doors due to the pandemic, said..