1527 GMT - The tide has now turned in the favor of Monte dei Paschi, Mergermarket's head of analytics for EMEA says. The Italian bank is pursuing a takeover of its peer Mediobanca, which itself wanted to buy Banca Generali to bolster its wealth-management activities and fend off the approach. However, Mediobanca's shareholders rejected the board's proposal at a meeting on Thursday. "The vote on Banca Generali was a referendum on Mediobanca's standalone strategy and shareholders have now made their views clear on that point," William Cain says. Mediobanca investors seem to be warming up to the idea of a combination with MPS, an outcome which looked like a long shot when it was first announced late January. This is despite the fact that Mediobanca's shares are currently trading above MPS's offer price, he adds. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
August 21, 2025 11:27 ET (15:27 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.