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MPS Takeover Bids Face Major Opposition

Italy's MPS suffered major setbacks for its takeover bids as key shareholder Caltagirone and French bank Credit Agricole opposed the proposed deals. The opposition strengthens Intesa Sanpaolo's rival takeover offer ahead of the crucial shareholder meeting.

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Italian businessman Francesco Gaetano Caltagirone arrives to attend an economic meeting held by Italian newspaper Il Messaggero, in Rome, Italy, June 9, 2026. REUTERS/Remo Casilli

BANCA MONTE DEI PASCHI SIENA suffered dual setbacks on Thursday in its defensive takeover bids for BANCO BPM SPA and BANCA GENERALI SPA after key investor opposition emerged. The failed moves strengthen the momentum behind a rival €35 billion takeover from INTESA SANPAOLO. Intesa's improved offer now holds a clear path to success ahead of an upcoming shareholder showdown in Italy.
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