According to Sky TG24, Monte dei Paschi di Siena is exploring alternatives to respond to Intesa Sanpaolo's €30,6 billion takeover bid. CEO Luigi Lovaglio has prepared two separate extraordinary transactions, one involving Banco Bpm and the other Banca Generali. The proposals were presented to the board of directors. It is unclear whether the bank intends to execute both transactions, choose one of them, or carry them out sequentially.
The move comes after the failure of the merger of equals with Banco BPM. In recent weeks, several hypotheses have circulated, ranging from an agreement with a foreign group to the sale of Generali's stake held by Mediobanca to pay an extraordinary dividend to shareholders. Analysts at Equita, quoted by Ansa, point to a level of "significantly higher complexity and execution risk" than the Intesa Sanpaolo offer.
A deal involving Banca Generali would depend on the agreement of the controlling company, Generali, which owns 50,17% of the bank. In the case of Banco BPM, it would be necessary to convince Crédit Agricole, which owns almost 30% of the group, and whose leadership has already indicated a preference for a merger with Crédit Agricole Italia. All this while Siena oversees the integration of Mediobanca.
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Read the original article in Italian at Sky TG24.
The Supreme Court reaffirmed: citizenship is born with the person.
- New legal front opened
- Processes can still be filed.
- Individual assessment before any decision.
