Intesa Sanpaolo bid for Monte dei Paschi di Siena enters critical phase

The takeover bid by Intesa Sanpaolo for Banca Monte dei Paschi di Siena (MPS) has reached a decisive stage. A shareholder meeting is scheduled for October 29, 2026, where investors will vote on MPS's defense strategy and structural questions. An expected decision from the European Central Bank (ECB) prior to this meeting is viewed as a key factor that could determine the outcome of the power struggle.

Intesa Sanpaolo CEO Carlo Messina has highlighted the strategic implications of the acquisition for the Italian financial system. Messina suggested that securing Mediobanca through this operation would ensure the absolute independence of Generali, noting that no entity could acquire Generali if Intesa Sanpaolo holds a 13.5% stake. He also expressed openness to having major shareholders such as Unicredit, Delfin, Caltagirone, and Benetton involved in the future group structure.

Despite the momentum, Unipol President Carlo Cimbri has urged caution regarding the finality of the deal, stating, “Rigore è quando arbitro fischia” (A penalty is only when the referee blows the whistle).

Financially, MPS reported a net profit of over 1.1 billion euros for the first half of 2026, with an adjusted operating result of nearly 2 billion euros. The bank has also increased its 2026 pre-tax profit forecast to 3.6 billion euros.