Intesa Sanpaolo advances €30bn bid for Monte dei Paschi, government eyes exit

Intesa Sanpaolo has launched an offer worth more than €30 billion to acquire Monte dei Paschi di Siena (MPS). The Italian Treasury, through the Ministry of Economy and Finance, holds a 4.86% stake valued at about €1.6 billion and plans to sell its share via an accelerated bookbuilding process when market conditions are favourable. Finance Minister Giancarlo Giorgetti stressed that the Ministry will remain neutral on the broader banking consolidation and will time the disposal to maximise returns.

Ivass president Paolo Angelini highlighted that the transaction also grants Intesa Sanpaolo an indirect stake in insurer Generali, prompting the insurance regulator to scrutinise the deal for prudential compliance together with the ECB and Bank of Italy.

Banco BPM said it is still evaluating the MPS dossier but will wait for the outcomes of MPS’s board meeting scheduled for 22 June before taking any concrete action. The bank has not made any formal decision yet, reflecting a cautious stance amid ongoing speculation about possible alternative offers or alliances.