Unipol sets sights on controlling stake in consolidated banking group

CEO Matteo Laterza confirmed the strategy following first-half results, noting that the company intends to increase its position over time as capital generation allows. This expansion hinges on a contingent deal where Unipol acquires approximately 635 branches and central operations from MPS, provided Intesa Sanpaolo succeeds in its own takeover bid for the Siena-based lender. The price tag for these assets is capped at 3.5 billion euros.

To fund this transformation, Unipol is preparing a 2.5 billion euro capital increase expected to conclude by the end of the year. Laterza emphasized that the current agreement shields the insurer from fluctuations in Intesa’s offer price, allowing the firm to focus on integrating the historic MPS brand into the BPER structure. The goal is to build a dual-legged financial powerhouse where banking and insurance contribute equally to the bottom line.