Intesa Sanpaolo to Acquire Monte dei Paschi di Siena for €33 Billion

Intesa Sanpaolo is set to acquire Banca Monte dei Paschi di Siena, the world's oldest surviving bank, in a deal valued at €33 billion. The takeover follows a shareholder vote on Thursday that rejected a defense plan proposed by CEO Luigi Lovaglio, who had resisted the acquisition.

Under the terms of the deal, Intesa Sanpaolo intends to break up the lender. The acquiring bank will sell half of the 1,200 branches and the central offices in Siena to the insurer Unipol. Unipol will then merge these assets with BPER, a regional bank it controls, while continuing to use the Monte dei Paschi brand.

The acquisition concludes a period of instability for the bank, which included the acquisition of Mediobanca in 2025. Intesa Sanpaolo first launched an unsolicited bid in June 2026, later adding €800 million in cash to secure the support of shareholders against the board's resistance.