Mediobanca CEO Says Paschi Bid Would Lead to Earnings Dilution
Mediobanca SpA Chief Executive Officer Alberto Nagel rebuffed Banca Monte dei Paschi di Siena SpA 's takeover bid saying it would dilute earnings per share and dividends of the combined entity.
A combination with Monte Paschi would result in 'a transaction that is not positive for us, not positive for Monte Paschi shareholders,' Nagel said at the Morgan Stanley European Financials Conference in London on Tuesday, flagging an estimated 'double-digit' impact on EPS.
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