This was revealed by La Stampa, according to which there was contact with Luigi Lovaglio, during which the Agricole top management expressed their opposition to the operation, preferring the marriage between Banco Bpm and Crédit Agricole Italia.
Monte dei Paschi responded to Consob's request for additional information and spoke of "irrevocable" offers, independent of the outcome of Intesa Sanpaolo's takeover bid. "We will not close Banco BPM branches."
With the filing, Consob's investigation begins and the exchange ratios are defined: 1,567 MPS shares for Banco BPM and 6,958 for Banca Generali.
BPER has reportedly entered BFF's data room and initiated discussions with AMCO to explore a new transaction following Banco BPM's withdrawal. Meanwhile, the bank has initiated a buyback of up to 3%, for a maximum of €750 million.
Interview with Professor Angelo Baglioni, full professor of Political Economy at the Catholic University of Milan. "The risks of implementing the Lovaglio plan are high, and convincing Credit Agricole to cede control of Banco BPM will be very difficult." The community…
Banco BPM unanimously blocks Lovaglio's plan to acquire the Milanese bank. In turn, Economy Minister Giorgetti assures that the stake in MPS still held by the Treasury will not be sold so as not to favor any of the offers...
Yesterday, Wall Street saw another slide in tech stocks, while the U.S. Treasury released another mega-support measure for the bond market. Asian stocks are recovering their initial losses, while European markets are expected to open slightly higher. Watch out…
Following the countermoves announced by MPS between Thursday and Friday, the markets' eyes remain on the Italian risk game. The FT also expressed a negative opinion on the operation, along with doubts from S&P Global.
The passivity rule could shape the Italian banking landscape, impacting the future of predatory banks and their takeovers. Here's the relevant legislation and how the rule impacts Lovaglio's countermoves.
Banking risk dominates the Milan stock market after MPS's double takeover bid for Banco BPM and Banca Generali. The market reacts cautiously, while the euro rises and oil remains above $93.
MPS PRESS RELEASE - A majority of MPS shareholders approved the dual takeover bid for Banco BPM and Banca Generali proposed by CEO Lovaglio to counter Intesa Sanpaolo's takeover bid. The plan calls for partial use of the Generali stake...
According to Il Sole 24 Ore, MPS CEO Luigi Lovaglio is ready to present his bickering board members with two options to resist Intesa's takeover bid. But the road to Siena's independence and integrity is paved with obstacles.
European stock markets are accelerating, buoyed by optimism about a possible agreement for the Strait of Hormuz and the momentum of the earnings season: Madrid leads the gains, while Amsterdam holds back due to tech. Gold is also rising, returning above $4.300.
In the first half of this year, the bank led by Giuseppe Castagna posted a net profit of €1,1 billion, up 3,9%. Shareholder compensation forecasts also increased.
According to the Financial Times, MPS is evaluating alternative options to fend off Intesa Sanpaolo's takeover bid, including a potential acquisition of Banco BPM. However, the Siena-based bank is subject to the passivity rule. Meanwhile, Giorgetti has also received an institutional request.
Following Banco BPM's decision to suspend consultations with MPS, the only certainty remains Intesa Sanpaolo's €30,6 billion takeover bid for Siena. Lovaglio: "Excessive concentration could hinder…
MPS-Banco BPM: No way, the deal is off. The board of directors of Banco BPM has unanimously resolved to suspend consultations on the potential merger with Siena. The letter follows Crédit Agricole's refusal. Monte dei Paschi's response: "We'll take...
The French group closed the second quarter with a profit of €2,78 billion and revenue growth of 12,9%. Italy remains the second-largest domestic market, while the future of Banco BPM and MPS also hinges on the green light...
These are hectic hours at Rocca Salimbeni and Piazza Meda, as managers are trying to craft a convincing proposal. But the road to the merger between MPS and Banco BPM remains uphill. Today, Intesa faces a final reckoning.
At the end of a board meeting that began this morning, the MPS board spared no criticism of Intesa's offer, starting with the stake in Generali, which would go to a direct competitor. Banco di Napoli's proposal, however, has gained traction...
Despite the successful takeover bid, the road to taking control of Commerz will still be long, and the German government may try to interfere further. Meanwhile, in Italy, Unicredit is studying several dossiers, including the possibility of Fineco.
According to Mf, Banco Bpm would like to take over the payment services and the custodian bank, while Amco would get the factoring
The French group has made its bid official, bringing it close to the takeover threshold: a move that "strengthens the solid industrial partnership" with Banco. With the Commerz offer now complete, the market is speculating on a possible move by UniCredit.
The €30,6 billion offer for MPS, launched just under a month ago by Intesa together with Bper, could only be stopped by a substantial relaunch on the market
Below-expected US job data reduces expectations for a Fed hike in July. Fincantieri and Leonardo are rising in Milan, while Unicredit is doing well - Follow the LIVE CHANNEL • MARKETS Why Asia is slipping on AI fears by Gabriella Buschi
According to Radiocor, Crédit Agricole would have warned the government in advance of its intention to increase its interest rate to close to 30%.
The board of directors unanimously approved the reorganization designed by Lovaglio. A new board meeting will take place on July 16th. "It is the board's duty to examine all options," the CEO said, referring to Intesa and Banco BPM.
After the State Attorney's Office clarified that UniCredit does not pose a threat to national security, the bank decided to withdraw its appeal, while the German government continues to do everything it can to hinder the takeover of Commerzbank.
Minister Giorgetti says the government will be vigilant on the new rounds of banking risk, but then hints at possible limitations on Intesa Sanpaolo's takeover bid for MPS. So: is the government a referee or still a player?
Crédit Agricole is Banco BPM's largest shareholder with a 22,9% stake and has already received the ECB's approval to increase its stake to 30%. The bank's management is reportedly evaluating all options to respond to the wave of...
It starts on Tuesday, June 16th, with the Bank's board meeting and the end of the acceptance period for Unicredit's offer, and concludes at the end of the year. Here are the next steps in the game of risk to mark in red on your calendar.
The president of Unipol described Banco BPM as "a desperate lover," slamming Lovaglio on one side and Pope on the other. Regarding Intesa at Generali: "It will be a guarantee for Italians' savings."
The MPS-Mediobanca deal will create "a €2 trillion Italian wealth management bank," Messina emphasized in a call with analysts, expressing confidence in the possibility of surpassing Siena's two-thirds stake: "Excellent relations with Delfin and Caltagirone." And...
The banking game reignites: Intesa launches a €30,6 billion takeover bid for MPS, signs an agreement with Unipol for the Montepaschi brand and 635 branches, and sets its sights on Mediobanca. The Board of Directors also approves the purchase of a 3,01% stake in Generali. The new group…
A surprise move by Banco BPM, which proposes a merger with MPS at equal terms, aims to forestall a countermove on Siena by Intesa and BPER, which would also impact Mediobanca and Generali, and would completely change the game in Italian finance.
Talks between the two banks are reportedly accelerating, and the game of risk could resume as early as this summer. The merger would create a banking hub with €450 billion in assets.
MPS, Generali, Banco BPM, Lovaglio: here are the key passages from Francesco Gaetano Caltagirone's long interview with the "Corriere della Sera", in which he discusses the latest financial events in which he has been one of the protagonists.
Banco Bpm closes the first quarter of 2026 with a net profit of €479,7 million, growing revenues, a CET1 ratio of 13,59%, and a confirmed 2026 dividend.
Anima Holding closed the first quarter of 2026 with total consolidated revenues of €140,6 million, up 5% from the same period in 2025, and consolidated net profit down 14% to €61,4 million, while the adjusted result…
The results are only slightly below expectations, but the stock, like those of other major French banks, is down nearly 9% on the Paris Stock Exchange. Italy, the second largest domestic market, has an aggregate net profit of €525 million.
The initiative includes financial solutions and specialized services, designed to support the international expansion process.
Eight big names in the Ftse Mib are detaching their 2025 dividends, kicking off the richest season of the year, which kicks off with the “Dividend Day” on May 18th and continues with the third wave on June 22nd.
72,32% of the capital was present at the Banco BPM meeting, with Castagna re-elected. The board list received 10 seats, four for the French and one for Assogestioni. The CEO: "The vote at MPS for Lovaglio is driven by industrial logic and ties to Anima."
Piazza Affari remains above 48 points, driven by banks: Banco Bpm is grappling with the renewal of its board of directors, while Crédit Agricole strengthens its weight in the capital • MARKETS Is peace in the Middle East really close? by Gabriella…
The defeat of the Caltagirone list and the victory of the Lovaglio list at the MPS assembly confirm that, fortunately, the market matters and is also a lesson for the Meloni government, which in the Capital Bill favored…
A surprise move by the board of directors of Banco BPM, which has decided not to take sides in the battle for the renewal of the governance of Monte dei Paschi di Siena. The final decision rests with CEO Castagna and the...
Palermo and Lovaglio are neck and neck for the CEO position: Delfin will be the deciding factor. Troubled waters are also present at Banco BPM, where the French Crédit Agricole, who dislike Chairman Tononi, will make their presence felt on the occasion...
Crédit Agricole has submitted a minority list of seven names for the board of directors of Banco BPM, of which it is the largest shareholder with a 20,1% stake. The French bank stated in a statement: "We seek neither control nor the CEO…
Following Lovaglio's exclusion from the board of directors, Pit Holding, owned by the Tortora family, has submitted a list of 12 names seeking a majority on the Siena board. "An open proposal addressed to all shareholders." The funds have filed their lists for…
Crédit Agricole has promised support to the current management ahead of the Banco BPM shareholders' meeting scheduled for April 16. Brasseur: "They've done an excellent job, and we'll present a supporting list."
One area where there should be unity of action among EU governments is the adaptation of the European banking system to changing economic, technological, and geopolitical landscapes. Alberto Pera, president of the Italian Antitrust Association, explains why.
The board unanimously approved the list of 20 candidates and had until Friday to submit it. Now it's up to Crédit Agricole and Assogestioni to submit their minority lists, according to the new bylaws.
As anticipated by the CEO, the board's list is being drawn up. A new board of directors is expected to meet on Tuesday to decide on the names.
On the eve of the board meeting called to decide on the submission of the outgoing board's slate, Castagna confirms expectations. The Antitrust Authority is the guiding light on the renewal of the board of directors.
After the ECB's approval, shareholders also approved the proposal, with 95,38% of the votes in favor. Crédit Agricole is ready to submit a minority list to obtain six board seats.
Castagna: With BPM, "we've focused on a strategy that combines tradition and innovation."
Crédit Agricole may soon submit its minority list for the renewal of the board of directors of Banco BPM, of which it is the largest shareholder with a 20,1% stake. There are no longer any obstacles, after Tuesday's...
According to an analysis by the Fiba Foundation of First Cisl on data from Intesa Sanpaolo, Unicredit, Banco Bpm, Mps and Bper, in 2025 the drop in interest margin was offset by an increase in commissions
Wall Street's positive outlook is driving Europe's momentum. Stellantis plunges on the Milan Stock Exchange, prompting banks to rebound.
Banco BPM closed 2025 with a profit of €2,08 billion, above the €1,95 billion planned, and issued a coupon of €1 per share, equivalent to a total dividend of €1,5 billion.
According to the top management, Italy remains a key market for the Crédit Agricole Group, with over 6 million customers and contributing €1,1 billion to the Group's net profit.
The new developments in the documents that Banco Bpm has prepared in view of the February 23 meeting, called to approve the amendments to the bylaws.
The move, which came just days after the European Central Bank's approval, coincides with the official launch of the process leading to the renewal of the Piazza Meda-based institution's board of directors. However, the French don't want control of the bank...
The French bank is ready to convert a 0,3% stake into derivatives and increase its stake to 20,1%.
Frankfurt's approval is expected by mid-January and could be crucial for Banco BPM's board renewal. Here are the options available.
The €425 million acquisition of 100% of EG Italia by a pool of industrial investors has closed, supported by a €129,8 million financing to support consolidation in the fuel sector…
Wall Street is seeing improved performances among small caps, the Dow Jones, and cyclical stocks, amid anticipation of a reacceleration in global growth. Asia is rising sharply, with Softbank's focus on investments. Stock markets…
In a hearing before the Parliamentary Commission of Inquiry into the Banking System, Andrea Orcel explained that closing its operations in Russia would only benefit the country we don't want to help. He then defended the bank's Italian roots: "Here, 45% of…
Just days after upgrading Italy's rating, Moody's upgraded its ratings for banks, utilities, and large industrial groups. Banco BPM, Bper, Credem, Unipol, Acea, Invitalia, and Aeroporti di Roma also received upgrades.
After days of waiting, the EU has officially launched infringement proceedings against our country for "the incompatibility of discretionary powers in banking mergers with European Union law in Italy." Giorgetti: "We will respond in a constructive spirit."
Chairman Livio Negro had promoted the sale of the portion of the share exceeding the limits set by the Acri-Mef protocol. Banco BPM, Unicredit, and Credem had expressed interest. Now the ball is in the court of the Piedmontese foundations.
At Piazza Meda, work is already underway to renew the board of directors, scheduled for next spring. The French shareholder, who currently appoints two directors, is looking to strengthen its position. The potential merger with Crédit Agricole Italia is in the background.
Brussels is expected to deliver its verdict on the government's golden power application to the OPS on Thursday, November 20. Despite negotiations in recent weeks, the Commission is reportedly unwilling to back down.
Investors are awaiting the results of Wall Street's king, Nvidia, which will be released after the close of trading on Wednesday. But some signs are not good so far. After yesterday's Wall Street collapse, European stock markets saw a…
After Monday's rumors, the first confirmations have arrived. In an effort to clarify matters and emphasize that UniCredit does not pose a threat to national security, the bank has filed an appeal with the Regional Administrative Court (TAR). But the government is not backing down and is considering a...
According to Repubblica, Unicredit would have already prepared the appeal to the Council of State, following the TAR ruling which had annulled only two of the four conditions imposed by the government.
The bank has already achieved 85% of its 2025 net profit guidance, which is therefore confirmed at approximately €1,95 billion. The interim dividend will be paid on November 26.
In a lengthy article dedicated to Unicredit, the Financial Times discusses Commerzbank, Banco Bpm, and Alpha Bank, as well as the future moves of CEO Andrea Orcel, who may decide to shift his focus to asset management, insurance, and payments.
Speaking to reporters, Crédit Agricole Deputy Director General Clotilde L'Angevin said the French bank has no intention of selling its Italian operations. First Cisl also opposes the merger.
According to Reuters, Brussels will send two letters to Italy by mid-November, demanding the withdrawal of the April 18 golden power decree and contesting the entire legislation on special powers.
The CEO of the Siena-based bank spoke before the Senate's commission of inquiry into the banking system, praising the collaboration with Minister Giorgetti. The impetus to accelerate came from UniCredit's move on Banco BPM.
Banco Bpm and Crédit Agricole are reportedly working to reach an agreement that could secure government approval: the French are ready to hand over control to Castagna.
The game of Risk is back, but the setting shifts from banking to bancassurance. There are many twists and turns on this table as well.
The European Competition Authority has reportedly decided to move forward with the special powers applied by the government in April, despite UniCredit's withdrawal of its offer. Italy could face sanctions. The decision could also impact the Crédit Agricole case.
While rumours are swirling about a planned merger between Banco Bpm and Crédit Agricole, the Minister of Economy says there are no political objections, but that golden power regulations must be respected.
Banco BPM CEO Giuseppe Castagna sees Crédit Agricole as "a good opportunity" but doesn't rule out MPS as a strategic alliance. The bank also remains open to discussions with the government on deferred tax assets (DTA).
Speaking at Bofa Securities' annual Financials CEO conference, UniCredit CEO Andrea Orcel said that in Italy, "we've learned our lesson; we need to accelerate without M&As." Regarding Commerz, he said, "We're moving forward without pressure."
Banco BPM shares continue to rise, as investors turn their attention to Piazza Meda, which is poised to return to the forefront of the banking game. CEO Castagna has two options on his table, but he's wary of the government's reaction.
The bank led by Giuseppe Castagna is back in the spotlight on the stock exchange for the possible consolidation of its relationship with Credit Agricole or its membership in the third banking group with MPS, which successfully completed its takeover bid for Mediobanca.
The Anima transaction contributed significantly to the profit. 2025 guidance was confirmed, with profits approaching €2 billion. An interim dividend of €700 million was also paid. Pop Sondrio also reported a record half-year, with its best profit ever: the board of directors...
European banks pass the EBA and ECB's 2025 stress tests. Italy leads the way in capital strength, even in recessionary scenarios. France and Germany, however, fare worse.
At the Ministry of Economy and Finance, victory is being celebrated for Unicredit's withdrawal from the takeover bid for Banco BPM, but there are at least four reasons that cast doubt on the Government's true success, and the French of Credit Agricole become the bank's largest shareholders...
Hopes for a tariff deal with Trump are boosting European stock markets. Stellantis and Exor's Iveco are dominating the Milan Stock Exchange, which is also dealing with the end of UniCredit's takeover bid for Banco BPM.
Orcel in a conference call with analysts: "Backtracking on Banco BPM is a difficult decision, but the right one. Commerzbank holds more value than Italy. Political intervention is changing the M&A dynamic."
Last night, Trump announced the trade agreement with Tokyo on his social media platform, Truth, the most significant since Liberation Day in early April. A similar US/EU agreement is hoped for: Eurostoxx futures up 1,2%. European stocks opened higher. A…
UniCredit believes "the golden power condition is not met." Orcel: "My responsibility is to act in the best interests of UniCredit and our shareholders." Padoan: "The situation is unsustainable."
The offer, which was due to expire on July 23, will continue until August 21. The suspension was established following the TAR's decision and the EU letter criticizing the application of the golden power to UniCredit's offer for Banco BPM.
The acceptance period for UniCredit's offer for Banco BPM will end on July 23rd, and uncertainty reigns supreme. The decision will likely be announced on Wednesday. Meanwhile, Bper's takeover bid for Pop Sondrio will reopen on July 21st.
Consob is evaluating whether it has the power to grant a second extension to the Unicredit-Banco BPM takeover bid. Savona on the golden power: "We can't continue like this; legislative clarification is needed."
Following the Regional Administrative Court's partial rejection, the EU Commission has issued a preliminary opinion, stating that the golden power over the UniCredit-Banco BPM transaction "could constitute a violation of Article 21 of the EU Merger Regulation and other provisions of EU law."
