The government previously weighed an accelerated bookbuilding procedure to divest the shares, valued at approximately €1.7 billion, before Intesa Sanpaolo launched its unsolicited €30.6 billion bid for the bank. While Giorgetti has described such a sale as an optimal solution for reducing state exposure, he emphasized that timing remains secondary to maintaining a neutral stance on broader banking consolidation. His recent comments at the annual meeting of Italy’s banking lobby hinted that this would be the final gathering attended by the government as a shareholder, fueling speculation of an imminent exit. The Treasury’s current holding is the last remnant of a 2017 rescue operation, following three successful stake placements initiated in late 2023. Meanwhile, potential interest from other players, such as Banco BPM, has cooled following internal shareholder pressure.
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Italy treads carefully on remaining Monte Paschi stake
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Economy Minister Giancarlo Giorgetti confirmed that Rome will manage its final 4.9% stake in Monte dei Paschi di Siena to avoid disrupting ongoing merger and acquisition activity. The government seeks to exit its position in the bailed-out lender without undermining the market dynamics surrounding a high-profile takeover bid.
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