Reported 2 days ago
Banca Monte dei Paschi di Siena has unexpectedly proposed a €13.3 billion all-share acquisition of its larger rival Mediobanca, offering 23 new shares for every 10 currently held by Mediobanca. This move adds to the recent wave of consolidation attempts within Italy's banking sector, as analysts express skepticism about the potential synergy between the two banks. The Italian government, which still holds a stake in Monte Paschi, is also closely monitoring this developing situation that could reshape the banking landscape.
Source: YAHOO