Monte Paschi Bids €34 Billion for BPM, Banca Generali

Monte dei Paschi announced bids for two Italian banks on Friday: Banco BPM at €25.3 billion and Banca Generali at €8.7 billion, totaling €34 billion in all-share offers. The acquisitions would position Monte dei Paschi as a larger competitor in the Italian banking sector. Monte dei Paschi is currently the subject of a takeover approach from Intesa Sanpaolo.

Next story