Intesa Sanpaolo readies board vote on capital boost tied to Mps takeover and Generali stake

Intesa Sanpaolo is preparing for a Thursday assembly that must approve a capital increase designed to finance its public offer for Banca Mps, an action the bank says will speed up the goals set out in its 2026-2029 plan and generate value for stakeholders with low execution risk. The institution also announced a temporary acquisition of a 3% shareholding in Generali, aimed at avoiding adverse effects of cross-ownership rules; without this move Generali could have bought a larger stake in Intesa, potentially triggering a freeze on its own shares.

Intesa will keep the Generali stake as a non-controlling investment, benefiting from the prudential regime of the Danish Compromise. On the governance side, the Siena board will co-opt Alessandro Caltagirone and Gianluca Brancadoro, bringing the board back to 15 members after earlier resignations. The bank’s strategy combines the Mps transaction with the Generali stake to reinforce its financial position and strategic objectives.