Key facts
- Monte dei Paschi di Siena is set to be taken over by Intesa Sanpaolo.
- Intesa's bid is valued at 33 billion euros.
- Half of MPS's branches will be sold to insurer Unipol.
- Unipol will merge MPS with BPER under the 'Monte dei Paschi' brand.
- MPS lost a shareholder vote on a defense plan on Thursday, October 29, 2026.
Monte dei Paschi di Siena (MPS), the world's oldest surviving bank, is on the verge of losing its independence after more than 550 years. Its attempt to fend off a takeover by Italy's largest bank, Intesa Sanpaolo, failed to secure shareholder backing. Intesa's plan involves a 33 billion euro ($36 billion) acquisition, which includes selling half of MPS's 1,200 branches and central offices in Siena to insurer Unipol. Unipol will then merge MPS with its controlled bank, BPER, under the 'Monte dei Paschi' brand.