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Italy's Monte dei Paschi should not to sell its Generali stake, investor Caltagirone says - Finance news and analysis from Global Banking & Finance Review
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Italy's Monte dei Paschi should not to sell its Generali stake, investor Caltagirone says  

Published by Global Banking & Finance Review

Posted on May 14, 2026

1 min read

· Last updated: May 14, 2026

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Caltagirone Opposes Monte dei Paschi Selling Its Generali Stake

Key Developments in the Monte dei Paschi and Generali Stake Issue

Background on the Stake and Key Shareholders

MILAN, May 14 (Reuters) - Banca Monte dei Paschi di Siena's (MPS) second-largest shareholder, Francesco Gaetano Caltagirone, said on Thursday that the Italian lender should not sell its stake in Italy's top insurer Generali.  

Last year, MPS bought merchant bank Mediobanca, which holds a 13% stake in Generali, where Caltagirone is also a key shareholder.

Management's Position on the Generali Stake

Comments from MPS CEO Luigi Lovaglio

In its latest post-results analyst call, MPS CEO Luigi Lovaglio said that the bank was not tied to its stake in Generali, though he added he had not had time to consider scenarios that might justify a sale. 

Caltagirone's Arguments Against the Sale

Strategic Value of the Generali Stake

Insurance Component Advantage

"Generali gives a insurance component to (MPS) that all other banks are looking for. Why give it up?" Caltagirone told daily Corriere della Sera in an interview published on Thursday.

(Reporting by Gianluca Semeraro, editing by Giulia Segreti)

Key Takeaways

  • Caltagirone argues Generali provides MPS with a unique insurance arm that enhances diversification and should be retained (m.investing.com)
  • MPS CEO Luigi Lovaglio has said the bank isn’t tied to the Generali holding but hasn’t explored sale scenarios due to focus on Mediobanca integration (marketscreener.com)
  • Any potential sale of the Generali stake would need approval from Rome to safeguard national financial stability (marketscreener.com)

References

Frequently Asked Questions

Why does Caltagirone oppose selling Monte dei Paschi's Generali stake?
Caltagirone believes that Generali provides an insurance component to MPS that is valuable and sought after by other banks.
What is Monte dei Paschi's current connection to Generali?
Monte dei Paschi acquired Mediobanca, which holds a 13% stake in Generali, making MPS a significant indirect shareholder.
What did MPS CEO Luigi Lovaglio say about the Generali stake?
CEO Luigi Lovaglio stated that MPS is not tied to the Generali stake but has not yet considered scenarios that could justify a sale.
Who is Francesco Gaetano Caltagirone in relation to MPS and Generali?
Caltagirone is MPS's second-largest shareholder and a key shareholder in Generali.
Why is the Generali stake important to Monte dei Paschi?
The Generali stake adds an insurance business component to MPS, enhancing its strategic value in the banking sector.

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