Intesa Sanpaolo's market offer for Monte dei Paschi di Siena backed by Unipol chief

Intesa Sanpaolo has launched a market offer (OPAS) to acquire Monte dei Paschi di Siena (MPS). Carlo Cimbri, president of Unipol and major shareholder of BPER, defended the proposal, calling it a "market operation with a strong industrial rationale and a solid financial contribution for MPS investors." He stressed that the offer is an initiative of Intesa, not his own, and that the market will decide its fate: "If the operation is liked it will go through; if not, there will be other options." Cimbri also responded to comments from MPS CEO Luigi Lovaglio, who suggested the bank’s value exceeds the roughly €30 billion recognised by the offer, noting the debate is typical of a house‑owner defending his own assets. The discussion took place during a private meeting with Economy Minister Giancarlo Giorgetti at the Authority’s 29th financial market gathering in Rome. Other Italian banks, including BPER’s recent consolidation of Popolare di Sondrio, and speculation about Unicredit and Crédit Agricole, were also mentioned as part of the broader banking sector context.