Italy’s banking landscape is heading for another major round of consolidation. Monte dei Paschi di Siena wants to acquire both Banco BPM and Banca Generali. The two offers have a combined value of around 34 billion euro – and also form part of a defensive battle against Intesa Sanpaolo.
Of all institutions, Monte dei Paschi—which was once bailed out by the government—is now attempting to become a consolidator itself through two takeovers worth billions—while at the same time fending off an attack by industry leader Intesa Sanpaolo. (Image: Shutterstock)
Friday, 21 August 2026 08:42
Italy’s Banca Monte dei Paschi di Siena (MPS) is going on the offensive. On Friday, the lender launched two parallel takeover bids for Banco BPM and asset manager Banca Generali, Reuters reported. Both transactions are to be financed entirely with shares.
MPS is offering around 25.3 billion euro for Banco BPM, while Banca Generali is valued at approximately 8.7 billion euro. Together, the two deals would therefore amount to around 34 billion euro.
