Italian insurance regulator IVASS authorized Intesa Sanpaolo’s public exchange and tender offer for Banca Monte dei Paschi di Siena (MPS).
This approval enables Intesa to acquire indirect qualifying holdings in MPS’s insurance joint ventures with Axa. The transaction also includes a stake in Generali.
The IVASS decision marks a key milestone among several required regulatory clearances. Separately, Italy’s antitrust authority launched a standard, expected probe into the acquisition.