Mediobanca Bid Reflects Monte Paschi’s Strength, Meloni Says
- Paschi offered to buy Mediobanca in a €13.4 billion deal
- Finance minister had earlier expressed support for the bid
Banca Monte dei Paschi di Siena SpA made a surprise offer to acquire larger rival Mediobanca SpA on Friday.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Banca Monte dei Paschi di Siena SpA’s takeover bid for rival Mediobanca SpA is a “market operation” reflecting the revived lender’s strength, Italian Prime Minister Giorgia Meloni said.
Italy should be “proud” that the bank, which was nationalized by the government during the global financial crisis, is now “perfectly healed” and able to embark on ambitious moves like the all-share offer for its larger rival, Meloni told reporters on Saturday.