Intesa sees no impact on MPS takeover offer from Consob requests or defence bids, source says

Intesa Sanpaolo

01/09/2026 16:57

MILAN, Sept 1 (Reuters) - Intesa Sanpaolo ISP.MI does not expect its buyout offer for Monte dei Paschi di Siena BMPS.MI to be hampered by defence bids mounted by its takeover target or by clarifications sought by Italy's markets watchdog, a person close to the matter said.
Italian daily La Stampa reported on Tuesday that markets authority Consob had written to Intesa to ask about the potential impact on its Monte dei Paschi (MPS) offer of two counter bids unveiled last month by the Tuscan lender. 
In an effort to thwart Intesa's €35 billion cash-and-share buyout scheme unveiled in June, MPS in August outlined plans for two simultaneous bids worth in total €36 billion.
It is proposing to buy rival mid-sized bank Banco BPM BAMI.MI as well as wealth manager Banca Generali BGN.MI, paying in shares.
Under Italian takeover rules, MPS needs shareholder approval to proceed and it has called a vote on the matter on October 29.
The source said the two MPS bids had no impact whatsoever unless its shareholders cleared them at the October meeting.
If the two bids are approved, Intesa will have the right to walk away from its own offer.
Intesa shareholders are called on to approve the MPS acquisition on September 10, and the tender period for the offer is expected to start in October after supervisory green lights including that of Consob.
Intesa will answer Consob's requests in a transparent and cooperative manner so as to aide the process that is set to culminate in Consob's approval of the offer's prospectus, the person said.

 (Reporting by Valentina Za, editing by Gavin Jones)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))