1007 GMT - Mediobanca's bid for Banca Generali could be motivated by growth but also by defense as it tries to fend off an unsolicited approach from Monte dei Paschi di Siena, ING says in a research note. "We consider a lower likelihood of a MPS takeover a positive for the bank's spreads," credit analyst Suvi Planterink Kosonen writes. The Italian bank has rejected the takeover bid and aims to grow its wealth-management business with this deal of its own. The interesting aspect of the transaction is that Mediobanca seeks to finance it with the stake it owns in Assicurazioni Generali--which is the majority owner of Banca Generali--turning the relationship with the insurer from an industrial to a financial one, she adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 06:07 ET (10:07 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.