Monte dei Paschi di Siena: the world’s oldest bank at the heart of Italy’s financial power struggle

Monte dei Paschi di Siena, the world's oldest bank, faces a takeover by Intesa Sanpaolo amid a turbulent history marked by financial crises and state bailouts. The bank's recent recovery under CEO Luigi Lovaglio has led to a significant profit, but political maneuvers and shareholder dynamics complicate its future. The upcoming shareholders' meeting on October 29 is crucial, as Intesa's €35bn offer looms large. The bank's historical ties to Siena and its political landscape have shaped its trajectory, leading to a complex battle for control of Italian finance.