Intesa Sanpaolo said it received authorization from the European Central Bank (ECB) to acquire a controlling stake in rival Banca Monte dei Paschi di Siena (MPS). The approval removes a key regulatory hurdle for the proposed voluntary public purchase and exchange offer, first announced in June 2026.
The authorization also covers indirect control of several financial entities connected to MPS. The Bank of Italy separately approved indirect acquisitions involving entities including Monte Paschi Fiduciaria and MBPS Leasing. The approvals pave the way for a major consolidation in Italy’s banking sector.