Norway's Wealth Fund Plans to Back Paschi's Mediobanca Bid
Norway's sovereign wealth fund, which owns a stake of more than 2.5% in Banca Monte dei Paschi di Siena SpA, plans to back the Italian bank's bid for competitor Mediobanca SpA at a crucial investor meeting next week.
Norges Bank Investment Management, a unit of the Norwegian central bank, will vote in favor of Monte Paschi's proposal to issue the fresh shares it needs to finance the offer, according to the unit's website.
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