Intesa Sanpaolo, Italy's largest bank, is preparing to make a bid for Monte dei Paschi di Siena (MPS) to disrupt the proposed €50 billion merger between BPM and MPS. The news follows BPM's board decision to approach MPS regarding the merger, which aims to enhance their competitive power against larger European banks. The situation is evolving as Intesa moves strategically amidst these developments.

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Intesa prepares Monte dei Paschi bid to gatecrash BPM’s €50bn bank merger

Board of Italy’s largest bank meets hours after rival proposed potential tie-up with MPS

A Monte dei Paschi di Siena bank branch with a red and white sign, and a person walking past while talking on the phone. BPM said its board had ‘unanimously approved’ a decision to approach Monte dei Paschi di Siena about a potential merger© Giuliano Berti/Bloomberg

Silvia Sciorilli Borrelli in Milan and Simon Foy and Lee Harris in London

PublishedJune 7 2026

UpdatedJune 7 2026

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