Compagnia di San Paolo backs Intesa’s Monte dei Paschi takeover

Compagnia di San Paolo, a major shareholder in Intesa Sanpaolo, has formally endorsed the bank’s unsolicited €30.6 billion bid for rival lender Banca Monte dei Paschi di Siena. Chairman Marco Gilli confirmed the support, citing the potential for significant value creation and a strengthened domestic banking sector.

June 11, 2026, 09:14 AM Business Person 4 0

Compagnia di San Paolo backs Intesa’s Monte dei Paschi takeover — Photo: Business Person

Intesa Sanpaolo, Italy’s largest banking group, launched the cash-and-share offer this past Monday. Should the acquisition proceed, the foundation’s current 6.6% stake in Intesa is expected to be diluted to 5.1%. Gilli emphasized that the move represents a strategic opportunity to consolidate the Italian market, aligning with the foundation’s long-term interests.

Beyond the MPS deal, Gilli signaled potential shifts in the foundation's broader portfolio. He noted that he does not rule out increasing the 0.1% stake Compagnia di San Paolo currently holds in Generali, Italy's largest insurance provider.

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