The Italian government cut its shareholding in Banca Monte dei Paschi di Siena by 15% allowing peers Banco BPM and Anima Holding to buy a stake in the world’s oldest bank.

Banco BPM, a major Italian bank, has acquired a 5% stake in MPS, aligning with its strategy while maintaining a standalone approach.

Banco BPM, Italy's third-largest bank and the Italian Treasury's preferred option as a merger partner for MPS, said it had no plans to seek supervisory approval to cross the 9.9% ownership threshold in MPS, reiterating its standalone strategy.