Norges Bank Opposes MPS Takeover Bid for Banco BPM

Norges Bank Investment Management, a major shareholder in Banca Monte dei Paschi di Siena (MPS), has announced its opposition to MPS's takeover bid for Banco BPM. The sovereign wealth fund plans to vote against the acquisition at MPS's extraordinary assembly on October 29, 2026, citing concerns that the deal does not maximize shareholder returns. This opposition poses a significant challenge to MPS management's takeover strategy.