By Stefano Bernabei
ROME, Oct 1 (Reuters) - Italian bank Intesa Sanpaolo SpA is in talks to buy about 50 branches from Banca Monte dei Paschi di Siena SpA and is offering between 125 million euros ($182.1 million) and 150 million, sources close to the issue said on Thursday.
Differences over price, however, have prevented Intesa Sanpaolo, Italy's biggest retail bank, and Monte dei Paschi from reaching a deal, said the sources, who spoke on condition of anonymity.
Il Sole 24 Ore newspaper reported on Thursday Intesa Sanpaolo Chief Executive Corrado Passera had presented a paper on the branches to a board meeting on Tuesday. Spokesmen for the banks declined to comment.
"The talks are still under way but it has not led to a formal offer because up to now there has been a strong difference on price," one of the sources said.
Gaining control of coastal branches in the central Italian region of Tuscany would let Intesa fill out the network of its Cassa di Risparmio di Firenze unit, the source said. Monte dei Paschi, in turn, would avoid overlap with Banca Toscana, its main subsidiary.
Intesa Sanpaolo, which has about 5,400 retail branches in Italy, expressed interest in the branches in June. It has offered 2.5 million euros to 3 million for each one, a second source said.
However, Monte dei Paschi wants 5 million euros, the price at which it sold 15 branches to Banca Popolare di Puglia e Basilicata in June, with a capital gain of 46 million euros, the source said.
Monte dei Paschi, the world's oldest bank, must sell up to 135 branches by mid-December for antitrust reasons.
The sale would help Monte dei Paschi boost its capital ratios. It has signed up to issue about 2 billion euros in bonds under a government programme aimed at shoring up bank capital and assuring lending.
At its Tuesday meeting, Intesa Sanpaolo's board decided to shun the state aid and issue a 1.5 billion euro Tier 1 bond. It also will carry out asset disposals worth 11 billion euros to 15 billion, it said.
The bank said on Sept. 11 assets up for sale, listing or partnership included asset manager Banca Fideuram. Exor SpA has said it is interested in Fideuram.
News reports also have said Intesa is in talks to sell its depositary banking service to State Street Corp. (Writing by Ian Simpson; Editing by David Holmes) ($1=.6863 Euro)