Reported 1 day ago
In a surprising turn of events, Banca Monte dei Paschi di Siena has proposed an all-share acquisition of larger rival Mediobanca, valued at €13.4 billion, signaling a dramatic shift for the historically troubled bank. Under CEO Luigi Lovaglio, Monte Paschi, previously reliant on government bailouts, has revitalized its fortunes, prompting speculation of a new national banking champion in Italy amidst a flurry of deals within the sector. However, skepticism remains regarding the deal's success, given investor concerns and Mediobanca's likely opposition.
Source: YAHOO