Mediobanca Investors Tender 13% in Paschi Bid’s First Big Win

Mediobanca SpA investors tendered about 13% of the company’s shares to Banca Monte dei Paschi di Siena SpA, giving the Siena-based lender the first significant win in a takeover bid for its Milanese rival.

The Mediobanca shares were tendered on Thursday, according to an Italian stock exchange filing made that evening, before a national holiday Friday. The filing didn’t disclose whose shares they were. The previous day’s filing showed only 0.06% had been tendered.