Finance
Factbox-Key shareholders in Italy's banking battles
Published by Global Banking & Finance Review®
Posted on January 25, 2025
2 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 25, 2025
2 min readLast updated: January 27, 2026
Monte dei Paschi's offer for Mediobanca highlights Italy's banking consolidation, involving key shareholders like Delfin and Caltagirone.
ROME (Reuters) - Italian bank Monte dei Paschi di Siena (MPS)'s all-share buyout offer for Mediobanca on Friday is the latest surprise twist of an increasingly complex banking saga.
Long-awaited Italian banking consolidation has taken off in recent months, triggered by the state selling down its stake in MPS in November, paving the way for a third big banking group to compete with Intesa Sanpaolo and UniCredit.
The latter, not wanting to be left out of a wave of deal making, late last year made its own unsolicited play for Banco BPM, Italy's third-largest lender.
The situation is made more complex by key shareholders in the banks involved owning stakes in other lenders as well as Italian insurer Generali.
Those shareholders include Delfin, the holding company of late billionaire Leonardo Del Vecchio, and entrepreneur Francesco Gaetano Caltagirone.
The following table sets out the key shareholders in the financial groups involved. Data as of Jan. 23.
Market Cap (mln Value
euros) of
stake
46,262 GENERALI mln
euros
MEDIOBANCA 13.1
6,06
0
DELFIN 9.93
4,59
4
CALTAGIRONE 6.92
3,20
1
BENETTON 4.8
2,22
1
MEDIOBANCA
12,731
DELFIN 19.81
2,52
2
CALTAGIRONE 7.76
9
88
BLACKROCK 4.23
5
39
BANCA MEDIOLANUM 3.49
4
44
MPS
8,778
MEF 11.73
1,03
0
DELFIN 9.78
8
58
CALTAGIRONE 5.03
4
42
BANCO BPM 5
4
39
ANIMA 3.99
3
50
ANIMA
2,126
BANCO BPM 22.4
4
76
POSTE 11.95
2
54
FSI 9.77
2
08
CALTAGIRONE 3.46
74
BANCO BPM
12,508
CREDIT AGRICOLE 15.1
1,88
9
BLACKROCK 5.04
6
30
JPMORGAN 3.06
3
83
CALTAGIRONE 2
2
50
(Compiled by Stefano Bernabei, Editing by Gavin Jones, Tommy Reggiori Wilkes, Philippa Fletcher)
The article discusses the consolidation of Italian banks, focusing on Monte dei Paschi's offer for Mediobanca.
Key shareholders include Delfin, Caltagirone, and other stakeholders with interests in multiple banks and Generali.
The consolidation was triggered by the state reducing its stake in Monte dei Paschi, allowing new banking groups to emerge.
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