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Italy's Monte dei Paschi di Siena (MPS) regards the premium implied in a €30.6 billion ($34.9 billion) ​unsolicited takeover bid from rival Intesa Sanpaolo as ‌too low, the bank said on Thursday.

Italy's biggest bank Intesa Sanpaolo on Thursday said it had completed the cloud migration of its core IT systems, ​joining a handful of European banks that have managed to ‌move away from legacy technology.

The Italian government will take a neutral stance ​regarding merger and acquisition moves targeting ‌bank Monte dei Paschi di Siena (MPS) , Economy Minister Giancarlo Giorgetti told parliament on Thursday.

Intesa Sanpaolo has committed to consulting with Italy's ​government over future decisions affecting insurer Generali , sources said on Monday, as part of assurances ‌the bank offered Rome regarding its plan to take over Monte dei Paschi.

Intesa Sanpaolo's unsolicited €30.6 billion ($35 billion) cash-and-share bid for Monte dei Paschi di Siena (MPS) seeks to cement its domestic supremacy at a time when rival UniCredit is ​closing in on Germany's Commerzbank.