Antitrust investigates Intesa Sanpaolo’s takeover of Monte dei Paschi
Italy’s competition authority has formally opened an in-depth probe into Intesa Sanpaolo’s plan to take full control of Banca Monte dei Paschi di Siena (MPS), following an offer announced on June 8, 2026. The Autorità Garante della Concorrenza e del Mercato (AGCM) confirmed the investigation on September 14, saying it aims to assess whether the deal could harm competition in key banking and insurance markets across the country.
Where competition is at risk
The review focuses on 20 provinces where the merged entity could dominate local markets, with 11 areas—like Siena, Grosseto, and Reggio Calabria—predicted to see combined market shares between 30% and 40% in retail deposits. Nine additional provinces may exceed 25%, raising concerns about reduced options for savers and small borrowers.
The authority is also scrutinizing lending markets for households (in 72 provinces) and small businesses (in 17 provinces), where the union of the two banks could limit credit access or raise borrowing costs. In asset management, the combined group could control 50–55% of Italy’s managed portfolios, a level that triggers deep regulatory concern.
The Generali connection
A major concern is Intesa’s indirect rise in influence over Assicurazioni Generali. Through MPS’s holding in Mediobanca, Intesa would gain a 13.3% stake in Generali, Italy’s largest insurer. This could create vertical coordination risks, especially in life and property insurance sales, where joint market shares reach 30–35% nationwide.
Though the insurance regulator IVASS has already approved the indirect shareholding, the Antitrust’s review remains the main obstacle. Experts note this reflects how modern financial mergers blur lines between banking, insurance, and asset management, requiring broader oversight.
What happens next
Intesa Sanpaolo has offered to sell 635 MPS branches to Unipol to ease competition fears. The agency will now assess whether this remedy is sufficient—or if the deal must be blocked or heavily modified. The investigation has a 90-day timeline, with a final decision expected by mid-December.
If approved, the merger would create Italy’s largest banking group, with over 27 million clients and more than €2 trillion in client assets. But for millions of Italians, especially in small towns where both banks are dominant, the outcome may mean fewer competitors—and less choice.
Other Italian moves shaping business, tech and sustainability
STM launches AI-powered Digital Twin hub in Castelletto
STM opened a new research center in Castelletto, near Milan, dedicated to ‘Digital Twin’ technology. The facility will use AI simulations to replicate and test manufacturing processes before physical production begins. By 2031, 80% of STM’s R&D activities will be centralized there, accelerating innovation for industry-wide solutions.
Eridania boosts sugar logistics with €20M investment
Italy’s leading sugar producer is overhauling its supply chain by building a 10,000-square-meter warehouse in Russi (Ravenna), set to replace Cervia as the national hub. The upgrade, complete by early 2028, will cut annual logistics costs by €1.5 million and increase distribution volume by 20%—while becoming the sole entry point for French-origin sugar entering Italy.
Silicon Box to build €3.2B chip plant in Novara
Construction of Europe’s first Silicon Box facility begins this spring in Agognate, near Novara. Backed by €1.3 billion in state funding, the plant will produce advanced chiplet packaging for AI and high-performance computing. It will create 1,600 direct jobs and position Italy as a key node in the continent’s semiconductor supply chain.
Abs Steel opens Nordic hub in Sweden
Abs, part of the Danieli Group, inaugurated a 25,000-square-meter steel service center in Värnamo, Sweden. The facility provides cut-to-size steel, logistics, and technical support to manufacturers across Scandinavia. Certified to Sweden’s Miljöbyggnad Silver standard, it reflects Abs’s push into Europe’s most demanding market for sustainability and service.
Mevis and ZZ Tech form first EV battery JV in Europe
Mevis, based in Vicenza, has partnered with Chinese firm ZZ Tech to produce precision battery components in Slovakia. The joint venture will supply structural parts for electric vehicles and energy storage systems—marking the first European-based joint venture in this niche sector.
Webuild launches €4.50 OPA for Trevi Finanziaria
Webuild announced a cash-only offer of €4.50 per share for Trevi Finanziaria, a specialist in underground construction. The offer, approved by Consob and opening on September 28, includes a 30% premium and full financing coverage. The merger will integrate Trevi’s expertise into Webuild’s global platform.
Ita Airways adds direct Rome-Verona flights
Starting March 28, 2027, Ita Airways will launch three daily flights between Rome Fiumicino and Verona, using Airbus A221 aircraft. The route aims to link Verona’s strong industrial base with Italy’s main international hub, enhancing access for both business and tourism.
Carpooling reduces emissions in Northern cities
In Torino, Brescia, and Firenze, carpooling has already enabled 94,852 shared trips, preventing over 153 tons of CO2 emissions. Local governments now see ride-sharing as a mobility tool on par with public transit, especially as fuel costs rise and congestion worsens.
A2a’s robot cleans dams without draining them
A2a introduced Teti, a fully electric underwater robot that removes silt from hydroelectric reservoirs without draining the water. Already tested at the Cancano dam, Teti has cleared 10,000 cubic meters of sediment—saving the equivalent energy of 10,000 home solar panel systems.
La Stampa USA launches to reach American audiences
Starting October 13, La Stampa will debut La Stampa USA, a daily English-language digital platform based in New York. It will combine Italian journalism with U.S.-based reporters to tell stories about Italian industry, culture, and diaspora communities to American audiences—directly addressing the fact that the U.S. is Italy’s second-largest export market.
Employee backlash at Apple Retail Italy
Fisascat Cisl reported a 70% participation rate in a nationwide strike at Apple stores, with over 1,600 workers demanding fair staffing levels and sustainable workloads despite record global profits. Protests continue, with more localized actions planned.
These developments reveal Italy’s economic moment: a wave of consolidation in finance, bold bets in manufacturing and tech, and new efforts to connect Italian industry with global markets—all unfolding under close regulatory scrutiny.
