Milan, 21 Aug. (LaPresse) – Montepaschi’s “offers” for B.Generali and BPM, set out in the press release issued today following the board meeting that approved them yesterday, “are subject to approval by the shareholders’ meeting pursuant to Article 104 of the Consolidated Law on Finance, and the board of directors of MPS has convened the meeting for 29 October 2026 for the purpose of obtaining the relevant approvals, pursuant to the same Article 104”. This is stated in today’s press release from Monte dei Paschi di Siena. The CEO of the Siena-based bank, Luigi Lovaglio, whilst presenting the two public offers to analysts during a conference call today, confirmed in response to their enquiries that “yes, a two-thirds majority will be required at the extraordinary general meeting”. The proposal for Shareholders’ Meeting authorisation and delegation of powers for the capital increase in support of the Offer will be submitted for approval to the Offeror’s shareholders’ meeting convened for 29 October 2026. Subject to obtaining the relevant regulatory approvals, it is expected that on that date the Mediobanca merger and the demerger announced on 22 June 2026 could also be submitted for approval by the MPPS shareholders’ meeting”, as stated in MPS’s notice pursuant to the TUF regarding the voluntary public exchange offer launched by Banca Monte dei Paschi di Siena for all the shares of BPM. “The Acceptance Period will commence following the publication of the Offer Document, in accordance with the provisions of the law.² The Offeror estimates that “the Acceptance Period may commence by the first half of December 2026 and conclude by the first half of February 2027”. The Offeror – it continues – “has decided to launch the offers for BPM and Banca Generali with the aim of creating a new leading banking and financial group in Italy, characterised by greater operational scale, a more diversified and resilient business model, and a strengthened presence across the whole country, with a particular focus on the country’s most economically dynamic areas”.
MPS: Shareholders’ meeting on 29 October to discuss dual public offering; completion expected in February 2027
Milan, 21 Aug. (LaPresse) – Montepaschi’s “offers” for B.Generali and BPM, set out in the press release issued today following the board meeting that approved them yesterday, “are subject to approval by the shareholders’ meeting pursuant to Article 104 of the Consolidated Law on Finance, and the board of directors of MPS has convened the meeting for 29 October 2026 for the purpose of obtaining the relevant approvals, pursuant to the same Article 104”. This is stated in today’s press release from Monte dei Paschi di Siena. The CEO of the Siena-based bank, Luigi Lovaglio, whilst presenting the two public offers to analysts during a conference call today, confirmed in response to their enquiries that “yes, a two-thirds majority will be required at the extraordinary general meeting”. The proposal for Shareholders’ Meeting authorisation and delegation of powers for the capital increase in support of the Offer will be submitted for approval to the Offeror’s shareholders’ meeting convened for 29 October 2026. Subject to obtaining the relevant regulatory approvals, it is expected that on that date the Mediobanca merger and the demerger announced on 22 June 2026 could also be submitted for approval by the MPPS shareholders’ meeting”, as stated in MPS’s notice pursuant to the TUF regarding the voluntary public exchange offer launched by Banca Monte dei Paschi di Siena for all the shares of BPM. “The Acceptance Period will commence following the publication of the Offer Document, in accordance with the provisions of the law.² The Offeror estimates that “the Acceptance Period may commence by the first half of December 2026 and conclude by the first half of February 2027”. The Offeror – it continues – “has decided to launch the offers for BPM and Banca Generali with the aim of creating a new leading banking and financial group in Italy, characterised by greater operational scale, a more diversified and resilient business model, and a strengthened presence across the whole country, with a particular focus on the country’s most economically dynamic areas”.