Banca Monte dei Paschi di Siena stock faces Intesa bid next steps

Shareholders of Banca Monte dei Paschi di Siena rejected management's defence proposals at the October 29 meeting, removing the main alternative to Intesa Sanpaolo's planned takeover. The development leaves the bid as the central strategic issue for investors, according to Morningstar, which published a Dow Jones report on Tuesday, November 3, 2026.

Shareholder vote removes defence route

The rejected plan centered on proposed acquisitions of Banco BPM and Banca Generali. Its defeat weakens management's attempt to build a broader independent banking group and clears a strategic obstacle for Intesa's offer.

The vote does not itself complete the transaction or transfer control of MPS. For shareholders, the next focus is therefore the remaining regulatory process and the formal timetable for the offer.

Regulatory milestones remain ahead

Morningstar reported that Intesa has received authorization from the European Central Bank but is still awaiting approval from Italy's market regulator and the country's antitrust authority. The acceptance period for the offer is expected to begin later in November.

Morningstar also reported that Intesa is preparing for the bid while raising its 2026 profit outlook. The takeover remains subject to execution of the remaining approvals and offer procedures.

Italian bank shares remain tied to the wider FTSE MIB market.

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