Business · Companies · 3 hrs ago
ECB approves Intesa Sanpaolo’s proposed takeover of MPS
The ECB approved Intesa Sanpaolo’s proposed takeover of MPS, Italy’s largest bank said.
The offer is valued at €32 billion and would give Intesa control of Monte dei Paschi di Siena, a competing Italian bank.
The ECB also approved Intesa’s indirect control of investment bank Mediobanca, which MPS bought last year.
To address competition concerns, Intesa has agreed to sell half of MPS’s branches to insurer Unipol, which plans to combine them with branches of BPER.
The deal would also give Intesa an indirect 13.4% stake in insurer Assicurazioni Generali, prompting scrutiny of its effect on the insurance market.
Consob is expected to review the offer document early next month, after which Intesa can begin the offer period; a competition authority decision is expected in the second half of November.
The European Central Bank approved Intesa Sanpaolo’s proposed acquisition of Monte dei Paschi di Siena.
The approval covers direct control of MPS and indirect control of several other financial companies.
Intesa said the approval was an important step for its €32 billion offer.
The Bank of Italy also granted Intesa prior authorization for several indirect acquisitions.
Approval from Italy’s market regulator and a decision by competition authorities were still pending.
- Who
- Intesa Sanpaolo received approval from the European Central Bank.
- What
- The ECB authorized Intesa’s proposed acquisition of MPS and related holdings.
- When
- October 27, 2026.
- Where
- Italy.
- Why
- The authorization concerns Intesa’s voluntary public offer for MPS; the sources do not state a further reason.
This story does not have two clearly opposing sides.
The ECB authorized Intesa Sanpaolo’s proposed acquisition of MPS and related holdings.
The Bank of Italy authorized several indirect acquisitions connected to the proposed deal.
- Offer value
- €32 billion
- Target
- Monte dei Paschi di Siena (MPS)
- ECB approval
- Direct control of MPS and indirect control of Wise Dialog Bank, Mediobanca, Mediobanca Premier and Compass Banca
- Additional ECB approval
- An indirect qualifying stake in Banca Progetto
- Pending decision
- Italian competition authorities were expected to decide in the second half of November