Mediobanca Board Set to Discuss Peer Monte Dei Paschi's $14 Billion Bid

Dow Jones

2025/01/27

By Elena Vardon

The board of Italy's Mediobanca is set to meet Tuesday to review the almost $14-billion approach made last week by peer Banca Monte dei Paschi di Siena.

The world's oldest bank launched a surprise offer for Mediobanca on Friday, signaling its intention to play an active role in the consolidation of the country's crowded banking market to create Italy's third largest banking group. The government--which still owns a stake in the lender it bailed out in 2017--endorsed the move over the weekend.

Mediobanca's executives will meet on Tuesday to discuss the offer, a spokesperson for the bank said on Monday. The spokesperson declined to comment further.

MPS shares on Monday extended Friday's losses, falling around 1.8% in afternoon trading in Europe, having shed as much as 2.8% earlier in the session. The move has been met with a tepid response by investors and analysts, some of whom see the bid as hostile and have raised concerns about the limited synergy potential as well as the lack of strategic fit.

Mediobanca's shares traded roughly flat at 16.5 euros, hanging on to gains from Friday's 7.7% jump. The all-share deal put forward by MPS values Mediobanca's shares at just under 16 euros and the whole entity at 13.3 billion euros ($13.97 billion) as of Thursday's closing prices.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

January 27, 2025 08:33 ET (13:33 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The all-share deal put forward by MPS values Mediobanca's shares at just under 16 euros and the whole entity at 13.3 billion euros ($13.97 billion) as of Thursday's closing prices. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Elena Vardon at elena.vardon@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 27, 2025 08:33 ET (13:33 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mediobanca Board Set to Discuss Peer Monte Dei Paschi's $14 Billion Bid</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMediobanca Board Set to Discuss Peer Monte Dei Paschi's $14 Billion Bid\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-27 21:33</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Elena Vardon \n</p>\n<pre>\n \n</pre>\n<p>\n  The board of Italy's Mediobanca is set to meet Tuesday to review the almost $14-billion approach made last week by peer Banca Monte dei Paschi di Siena. \n</p>\n<p>\n  The world's oldest bank launched a surprise offer for Mediobanca on Friday, signaling its intention to play an active role in the consolidation of the country's crowded banking market to create Italy's third largest banking group. 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