0827 GMT - The largest shareholders of Italian bank Monte dei Paschi di Siena are likely to vote in favor of a capital increase to finance its proposed acquisition of peer Mediobanca, Equita says in a research note after proxy advisor ISS issued a negative recommendation on the deal. It can be assumed that MPS's three largest shareholders--the Italian government, Del Vecchio's holding Delfin and Caltagirone, which own an around 26.5% stake combined--vote in favor at the April 17 shareholder meeting, analysts Luigi de Bellis and Andrea Lisi write. Shareholders Banco BPM and its takeover target Anima--who jointly own 9%--haven't yet expressed their view. "The negative stance of ISS reflects the market's concerns and is consistent with our view, in particular on the lack of compatibility between the business models, limited synergies and the risk of dyssynergies," the analysts write. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 04:27 ET (08:27 GMT)
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