Sonia Sirletti

Banca Monte dei Paschi di Siena SpA’s board approved a plan to launch separate bids for Banco BPM SpA and Banca Generali SpA, according to people familiar with the matter, in a long-shot move by the world’s oldest bank to fend off a takeover by Intesa Sanpaolo SpA.

Banca Monte dei Paschi di Siena SpA is seeking to buy two separate banks for a combined value of €34 billion ($40 billion) as it seeks to prevent being bought by rival Intesa Sanpaolo SpA.

Banca Monte dei Paschi di Siena SpA’s history contains plenty of spectacular highs and stark lows. But even for the world’s oldest bank, this year is proving particularly turbulent.

During four decades in Italian finance, Luigi Lovaglio has seen it all. But his latest pitch as chief executive officer of Banca Monte dei Paschi di Siena SpA is bold even by the standards of this veteran banker: a twin takeover worth about €34 billion ($40 billion).

German Finance Minister Lars Klingbeil and UniCredit SpA Chief Executive Officer Andrea Orcel will meet for the first time next month, marking another win for the Italian executive in his pursuit of Commerzbank AG.

A court fight over €1 billion ($1.2 billion) worth of Banca Monte dei Paschi di Siena SpA bonds wiped out a decade ago is set to start again, as a group of hedge funds is seeking to obtain years of missed interest payments.

Intesa Sanpaolo SpA shareholders approved the issuance of new shares to finance the €35.4 billion ($41.2 billion) takeover bid for Banca Monte dei Paschi di Siena SpA, bringing Chief Executive Officer Carlo Messina a step closer to a deal that would reshape Italy’s financial landscape.

Bending Spoons SpA agreed to acquire workplace-collaboration platform Miro in an all-cash transaction valuing the business at $1.36 billion, as the Italian technology group continues its acquisition spree.

Two years after Andrea Orcel first knocked on the doors of the German government to negotiate over Commerzbank AG, he’s finally getting his way.

Cerberus Capital Management has proposed taking a stake of less than 30% in BFF Bank SpA through a capital increase, as the troubled Italian lender weighs options to strengthen its business, according to people familiar with the matter.