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Italy's Monte dei Paschi di Siena (MPS) regards the premium implied in a €30.6 billion ($34.9 billion) unsolicited takeover bid from rival Intesa Sanpaolo as too low, the bank said on Thursday.
Italy's biggest bank Intesa Sanpaolo on Thursday said it had completed the cloud migration of its core IT systems, joining a handful of European banks that have managed to move away from legacy technology.
Intesa Sanpaolo has committed to consulting with Italy's government over future decisions affecting insurer Generali , sources said on Monday, as part of assurances the bank offered Rome regarding its plan to take over Monte dei Paschi.
Intesa Sanpaolo's unsolicited €30.6 billion ($35 billion) cash-and-share bid for Monte dei Paschi di Siena (MPS) seeks to cement its domestic supremacy at a time when rival UniCredit is closing in on Germany's Commerzbank.
Intesa Sanpaolo shareholder Compagnia di San Paolo backs the bank's bid for Banca Monte dei Paschi di Siena (MPS) , the chairman of the banking foundation, Marco Gilli, told daily La Stampa on Thursday.
Intesa Sanpaolo's swoop on Monte dei Paschi di Siena (MPS) bears the hallmarks of Chief Executive Carlo Messina's approach: meticulously prepared with loyal allies, and with buy-in from the government in Rome.
Intesa Sanpaolo's takeover bid on smaller peer Monte dei Paschi di Siena would be the latest and biggest transformative deal for Italian banks. Here is a rundown of completed and attempted transactions that have shaken up the sector since the start of 2025.
Intesa Sanpaolo has taken a 3% stake in Generali to prevent the insurer from building a defensive stake in Italy's biggest bank, CEO Carlo Messina told analysts.
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