Latest news with #BancaMonteDeiPaschi
Bloomberg
2 days ago
- Business
- Bloomberg
Mediobanca Investors Tender 13% in Paschi Bid's First Big Win
Mediobanca SpA investors tendered about 13% of the company's shares to Banca Monte dei Paschi di Siena SpA, giving the Siena-based lender the first significant win in a takeover bid for its Milanese rival. The Mediobanca shares were tendered on Thursday, according to an Italian stock exchange filing made that evening, before a national holiday Friday. The filing didn't disclose whose shares they were. The previous day's filing showed only 0.06% had been tendered.
Bloomberg
31-07-2025
- Business
- Bloomberg
Mediobanca Profit Rises on Lower Provisions for Doubtful Loans
Mediobanca SpA reported higher profit after setting aside less money for loans turning sour, as the Italian lender seeks to fend off an unwanted takeover by rival Banca Monte dei Paschi di Siena SpA. Net income in the company's fiscal fourth quarter rose 2.9% from a year earlier, to €336.9 million ($385.2 million), Mediobanca said in a statement on Thursday in Milan. Analysts surveyed by Bloomberg had expected €332.3 million on average.
Bloomberg
30-06-2025
- Business
- Bloomberg
Mediolanum Is Selling Its 3.5% Mediobanca Stake Amid Paschi Bid
Banca Mediolanum SpA is selling its 3.5% stake in Mediobanca SpA, divesting from the investment bank that's currently subject of a takeover attempt by Banca Monte dei Paschi di Siena SpA. Banca Mediolanum is placing about 29.1 million shares held by the lender and its unit Mediolanum Vita through an accelerated book building, it said in a statement on Tuesday. Morgan Stanley is acting as sole bookrunner on the deal.
Yahoo
30-06-2025
- Business
- Yahoo
Mediobanca plans $5.7bn shareholder payout to thwart MPS takeover
Italian investment bank Mediobanca has announced a three-year strategy to distribute $5.74bn to its shareholders, as it seeks to counter a hostile takeover bid from smaller competitor Banca Monte dei Paschi di Siena (MPS), reported Reuters. In January this year, MPS launched a €13.3bn ($14bn) all-share buyout offer for merchant bank Mediobanca. Mediobanca rejected the takeover proposal from MPS, stating it is 'destructive' for the business and lacks 'industrial and financial rationale' for Mediobanca shareholders. It also said that the offer could lead to a 'significant loss' of customers, mainly in wealth management (WM) and investment banking. MPS, having secured approval from the European Central Bank, is preparing to launch an all-share bid for Mediobanca next month. Meanwhile, Mediobanca proposed acquiring private bank Banca Generali in April to bolster its scale and deter MPS' advances. However, it was compelled to postpone a shareholder vote on the acquisition to 25 September 2025 due to growing opposition from investors who increased their stakes in Mediobanca to resist the deal. The bank's updated three-year plan to 2028 emphasises expanding its wealth management division, supported by its corporate and investment banking operations, with consumer finance acting as a buffer against macroeconomic uncertainties. Mediobanca projects a 45% increase in net profit over the three years to 2028, reaching €1.9bn ($2.2bn), with revenues expected to grow at an average annual rate of 6%, surpassing €4.4bn ($5.5bn). In its prior plan to 2026, the bank had targeted returning over €4bn ($4.6bn) to shareholders and anticipated a net profit exceeding €1.4bn ($1.64bn). Additionally, Mediobanca plans to issue up to €750m ($878.6m) in Additional Tier 1 bonds under the new strategy, according to Nagel. "Mediobanca plans $5.7bn shareholder payout to thwart MPS takeover" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
27-06-2025
- Business
- Bloomberg
Mediobanca Vows to Boost Payouts to Fend Off Monte Paschi Bid
Mediobanca SpA plans to return €4.9 billion ($5.7 billion) to shareholders by 2028, as the Italian lender seeks to defend against a takeover bid from rival Banca Monte dei Paschi di Siena SpA. The bank sees revenue growing to above €4.4 billion by 2028, at an annual rate of 6%, it said in a strategy update disclosed Friday. Net profit is seen rising to almost €2 billion over the same period.
