Advisers for Banca Monte dei Paschi di Siena (MPS) and Banco BPM are reportedly in talks about a possible merger structured as a “merger of equals.” According to people familiar with the matter, the proposed structure would combine shares and cash, serving as an alternative to Intesa Sanpaolo’s €35 billion bid for Monte Paschi. Bloomberg reports that the discussions are focused on how to incorporate a cash component alongside stock, though no final terms are described and the talks could still change. Investing.com relays the same Bloomberg report and does not add additional details. The reporting places Intesa Sanpaolo’s offer as the current benchmark for MPS negotiations, while these adviser-level talks indicate there is interest in an alternative transaction path. As described, the talks involve negotiations between advisers rather than a confirmed agreement between the banks, and timing or likelihood of reaching a deal is not specified in the sources.