Banca Monte dei Paschi di Siena, IT0005508921

Banca Monte dei Paschi di Siena stock defence plan rejected

Published on 11/02/2026 at 09:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Banca Monte dei Paschi di Siena stock faces a clearer takeover path after shareholders rejected management's defence plan. Intesa remains central to the next stage.

Shareholder vote reshapes takeover path

Investors rejected MPS proposals to acquire Banco BPM and Banca Generali.
The Mediobanca merger proposal also failed to secure approval.
The vote removes the management's proposed defence against Intesa Sanpaolo's bid.

Banca Monte dei Paschi di Siena, IT0005508921, Illustration mit AI erstellt.

Shareholders of Banca Monte dei Paschi di Siena rejected CEO Luigi Lovaglio's main defence proposals against Intesa Sanpaolo's takeover bid at a meeting on Thursday, October 29, 2026. The vote ended the bank's attempt to counter the offer through simultaneous acquisitions of Banco BPM and Banca Generali, according to ANSA.

Defence strategy rejected by investors

More than 91% of the bank's capital represented at the meeting voted against the proposed Banco BPM transaction. Only 6.47% supported it, while 2.41% abstained. The separate proposal for an acquisition of wealth manager Banca Generali was also rejected, with 90.9% voting against, 6.66% in favour and 2.41% abstaining.

Lovaglio had presented the transactions as an alternative route for MPS as it faced Intesa Sanpaolo's 33-billion-euro takeover bid. The rejection removes the central elements of that management-led response and leaves the proposed Intesa transaction as the dominant strategic issue for investors.

Mediobanca plan also fails

Shareholders also rejected a proposal to merge Mediobanca into MPS. The plan received 32.91% support, while 63.65% voted against it and 3.42% abstained. MPS had acquired Mediobanca earlier in 2026, making the failed merger another setback for the bank's effort to build a broader financial group independently.

The outcome matters for the share because it changes the balance between MPS's standalone expansion strategy and Intesa's proposed takeover. The vote itself does not establish the final completion of the transaction, but it removes the measures that management had put forward to resist the offer.

The real-time quote of Banca Monte dei Paschi di Siena stock was 10.85 euros on Lang & Schwarz at 09:35 CET on Monday, November 2.

Banca Monte dei Paschi di Siena

Company: Banca Monte dei Paschi di Siena S.p.A.
ISIN: IT0005508921
Lang & Schwarz quote: 10.85 euros at 09:35 CET on November 2, 2026
Key event: Shareholders rejected management's defence proposals on October 29, 2026

Italian bank shares remain linked to the wider FTSE MIB market.

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