MPS: Bisoni says they are confident about Lovaglio’s plan; the board of directors remained united -2-
(Il Sole 24 Ore Radiocor) - , - The extraordinary board meeting of MPS held yesterday did not approve any new measures aimed at countering Intesa San Paolo’s bid, nor did it announce a postponement of the general meeting, which will go ahead as planned on 29 October. In the press release issued late yesterday evening setting out the preliminary considerations of the MPS board, amongst other points, the board emphasises that the press release from Intesa San Paolo, which has relaunched its bid to acquire the Siena-based bank, “hopes that shareholders will not approve the merger between MPS and Mediobanca and the related reorganisation measures, arguing that the merger could be carried out following the completion of the ISP bid by ISP’s management”. The merger “was not conceived in response to the ISP bid. The MPS Group’s reorganisation plan “was approved on 17 February 2026, and the merger plan of 10 March 2026 already provided for the subsequent demerger transactions; the merger with Mediobanca is therefore based on independent industrial, organisational and regulatory rationale and
"It serves to simplify the structure of the MPS Group".
In conclusion, the board of directors confirms that the MPS project is a natural progression of the transaction
Mediobanca, “enhances the bank’s identity and integrity, has a sound industrial and economic rationale, and has been designed to increase shareholder value through greater scale, diversification of revenue streams and their significant stake in the capital and future value of the resulting group”.
The board of directors also considers that “the bonus announced by ISP should be assessed
