Banco BPM officially terminated merger discussions with Banca Monte dei Paschi di Siena on July 31, citing a lack of decisive progress and resistance from its largest shareholder, Crédit Agricole. The decision comes after Intesa Sanpaolo launched a €30.6 billion unsolicited takeover bid for MPS on June 8. Now MPS, valued at around €27.3 billion, is considering acquiring Banco BPM, which has a market capitalization of approximately €20.3 billion. The Italian government, which still holds 11.7% of MPS after selling a 15% stake for €1.1 billion, could influence the outcome of this banking battle in favor of domestic consolidation over a foreign acquisition.
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