Banca Monte dei Paschi di Siena (MPS) CEO Luigi Lovaglio is exploring share-swap offers with Banco BPM and Banca Generali. These proposals serve as alternatives to Intesa Sanpaolo’s existing takeover bid.
The move introduces uncertainty to Intesa’s acquisition plans and could trigger a bidding war for the historic lender. Italy's Prime Minister stated that the government opposes any deal that would result in the bank being dismembered.
Separately, Intesa Sanpaolo continues to execute its previously announced share buyback program.