1547 GMT - Banca Monte dei Paschi di Siena's 13.3 billion-euro takeover approach for Italian peer Mediobanca has an unwelcome political dimension that casts doubt on the deal, AlphaValue's David Grinsztajn says in a note. A potential acquisition would gives the Italian government a way out of its investment in Monte dei Paschi, which currently stands at 11.7%, AlphaValue says. UniCredit's offer for Banco BPM had potentially closed the option of a combination between BPM and Monte dei Paschi, according to AlphaValue. "However, the political dimension of the deal and the limited takeover premium make us reluctant to price it in," the analyst says. Monte dei Paschi shares drop 6.8%, while Mediobanca jumps 6.5%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
January 24, 2025 10:47 ET (15:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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