(Alliance News) - The public exchange offer launched by Intesa Sanpaolo for Banca Monte dei Paschi di Siena has reportedly been welcomed by the Sienese bank's main private shareholders, Delfin and Francesco Gaetano Caltagirone, MF-Milano Finanza reported on Wednesday.

According to the daily, the Del Vecchio family holding company, which is MPS's largest shareholder with a 17.5% stake, is viewing the transaction positively due to the potential value creation for its holding. Should it tender its entire stake, Delfin would receive a shareholding of approximately 3.8% in Intesa Sanpaolo.

Caltagirone, who holds around 13.5% of MPS, is also said to look favorably upon the move, both for the deal's industrial prospects and its potential impact on the competitive landscape of the Italian banking sector.

According to MF, if both shareholders were to accept the offer, Intesa would secure the support of more than 30% of MPS's share capital.

By Claudia Cavaliere, Alliance News reporter

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