Intesa Sanpaolo’s plan to buy Banca Monte dei Paschi di Siena for about €36 billion has drawn the eye of competition regulators. If the deal goes through, the buyer – valued at roughly €119 billion – would become Italy’s biggest holder of deposits and loans, dwarfing its rivals. At the same time, Intesa, already a top three player in life insurance, would pick up a sizable stake in sector leader Assicurazioni Generali, raising concerns about market concentration.
CEO Carlo Messina says the bank has drafted strategies to address the antitrust risks, but the added scrutiny adds another layer of uncertainty to an already complex transaction.