Monte dei Paschi Shares Jump After Intesa, BPM Propose Rival Deals
By Adria Calatayud
Banca Monte dei Paschi di Siena shares jumped after Intesa Sanpaolo and Banco BPM proposed rival deals for the Italian lender, setting the stage for a potential bidding fight.
Shares in Monte dei Paschi rose as much as 10% in early European trading Monday, erasing the stock's losses since the start of the year, while shares in its majority-owned, separately listed Mediobanca also climbed 10%.
Meanwhile, shares in Intesa and BPM were down 3% and 1%, respectively.
Intesa said it launched a 30.66 billion-euro ($35.32 billion) takeover bid for Monte dei Paschi in stock and cash, and that it struck a deal with Italian insurer Unipol to sell the MPS brand, 635 branches and associated central operations for between 3 billion and 3.5 billion euros.
Shares in Unipol were down 0.5% in early trading.
The Intesa bid came hours after BPM said it had invited Monte dei Paschi to discuss a merger proposal to create an Italian banking champion with a combined market value of more than 50 billion euros, when including deal synergies. BPM said the deal would be structured as a merger of equals, but didn't detail the financial terms of the merger proposal.
Monte dei Paschi didn't respond to a request for comment.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
June 08, 2026 03:38 ET (07:38 GMT)
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