By Adam Whittaker
Banca Monte dei Paschi said it received approval from the European Central Bank to raise capital from the issuance of new shares as part of its bid for Mediobanca.
The Italian bank, formally called Banca Monte dei Paschi di Siena, said late Tuesday that the new shares will be issued as common Equity tier 1 capital.
Shareholders of MPS are set to vote on the board's proposed capital increase for its all-share bid for its larger peer on April 17.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
April 09, 2025 01:32 ET (05:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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