Published by Global Banking & Finance Review®
Posted on June 4, 2025
1 min readLast updated: January 23, 2026
Add as preferred source on GoogleGenerali's CEO criticizes Monte dei Paschi's bid for Mediobanca, citing unclear industrial logic and potential risks to Generali's independence.
ROME (Reuters) -Monte dei Paschi di Siena's (MPS) bid for Mediobanca makes no industrial sense, the chief executive of insurer Generali said in an interview on Wednesday, adding that the bid was aimed at taking charge of his company.
"The industrial logic is not clear, many have expressed doubts" (about the offer), Generali CEO Philippe Donnet told daily la Repubblica.
"It is clear" that Monte dei Paschi's takeover is geared towards taking control of Generali, Donnet said, given that some shareholders own significant stakes in both the Italian banks and in the insurer.
"I see this as a very negative scenario, it would be dangerous for a healthy management of the group. The company need to stay Italian, independent and international," he added.
Construction magnate Francesco Gaetano Caltagirone and investment company Delfin recently acquired nearly 20% of Monte dei Paschi. They together hold 27% of Mediobanca and 17% of Generali.
(Reporting by Giulia Segreti, editing by Gavin Jones)
Generali CEO Philippe Donnet stated that Monte dei Paschi's bid for Mediobanca lacks industrial sense and is primarily aimed at taking control of Generali.
Donnet expressed that the bid poses a negative scenario for the management of the group and emphasized the need for Generali to remain independent and Italian.
Construction magnate Francesco Gaetano Caltagirone and investment company Delfin have acquired nearly 20% of Monte dei Paschi and hold significant stakes in both Mediobanca and Generali.
He implied that the takeover could jeopardize the healthy management of Generali, suggesting that it should remain independent and maintain its Italian roots.
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