Italy has adopted a decree that permits Bancoposta to acquire minority holdings across parts of the financial services industry.
Bancoposta, the financial services arm of Poste Italiane, may now invest in banks, insurance and reinsurance companies, investment firms, asset management companies, and electronic money institutions.
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The decree does not allow Bancoposta to hold controlling interests in “banks and financial intermediaries”.
The restriction applies to banks and financial intermediaries entered in the register established under Article 106 of Legislative Decree No. 385 of 1 September 1993.
The decree also sets out oversight requirements for Bancoposta. Supervision will be coordinated by the Bank of Italy.
Separate provisions concern AMCO Spa, which is owned by the Ministry of Economy and Finance and works in the recovery of non-performing loans. Its exemption from cost-containment rules for entities on the ISTAT list has been extended to 30 March 2027.
The change follows Poste Italiane’s expansion beyond postal services into financial activities. The group provides payments, mobile services, energy supply, insurance, and investment products.
Reuters reported that Poste Italiane is restructuring its financial services operations, including plans for a hub linking its banking and digital payments businesses more closely.
In separate consolidation activities in Italy, Crédit Agricole proposed discussions with Banco BPM over a merger between Banco BPM and Crédit Agricole Italia.
The proposed combined bank would remain listed in Milan, with the French lender adding that Banco BPM will be “at the heart” of the new entity.
In late last month, Intesa Sanpaolo received prior approval from the European Central Bank (ECB) to acquire a direct controlling shareholding in MPS Banca Monte dei Paschi di Siena (MPS).
Over 90% of Monte dei Paschi (MPS) shareholders voted against CEO Luigi Lovaglio’s proposal to launch twin bids for Banco BPM and Banca Generali.
The proposals were intended to provide an alternative strategy as Intesa seeks to acquire Monte Paschi.
