Intesa Sanpaolo

Intesa Sanpaolo shareholders voted 96.96% in favor of a capital increase to support the voluntary takeover-and-exchange offer for Monte dei Paschi di Siena, a key step to implement the transaction announced in June. CEO Carlo Messina stressed the merger is meant to create a stronger banking group and reach more than 27 million customers, around €2 trillion in assets under management and over €16 billion in net profit by 2029. The project integrates Mediobanca, foresees possible participation by Unipol and includes acquiring a financial stake in Assicurazioni Generali. Intesa also plans roughly 13,100 new hires by 2029 to support growth and integration. » Mere på finanzen.net

At an extraordinary general meeting, 97 percent of Intesa shareholders present approved a capital increase intended to financially secure the planned takeover of Monte dei Paschi (MPS). Intesa may issue up to 5.7 billion new shares and is offering MPS shareholders ten MPS shares in exchange for 16 new Intesa ordinary shares plus €1 in cash. Messina plans to sell the brand and roughly half of the branch network to Unipol for €3–3.5 billion; Intesa would integrate the remaining branches and functions. MPS is responding with share-swap offers for Banco BPM and Banca Generali, while the government and the meeting on 29 October will play a central role in the further outcome. » Mere på handelsblatt.com

According to an SEC filing, Intesa Sanpaolo bought about 5.66 million SpaceX shares worth roughly $966 million in Q2, making SpaceX about 33% of its US equity portfolio at quarter‑end. The purchases came shortly after SpaceX’s June 12 IPO, but the stock has since fallen significantly. At the same time, the bank cut its holding in BlackRock’s iShares Bitcoin Trust by about 94% to a remaining stake worth roughly $1.36 million, increased hedging positions and nearly tripled its holding in the iShares Staked Ethereum Trust. It did not fully exit crypto: Intesa still holds positions in other Bitcoin ETFs and remains indirectly exposed to Bitcoin through its SpaceX stake. » Mere på finanzen.net