Latest news with #BancaMontedeiPaschidiSienaSpA
Bloomberg
28-04-2025
- Business
- Bloomberg
Italian Plot Twist May Finally Insulate Finance From Politics
Italy's banking melodrama just took another wild plot twist. Mediobanca SpA has spotted a neat escape route from an unwanted takeover bid by Banca Monte dei Paschi di Siena SpA — and from the billionaire shareholders who've spent years trying to use it as a backdoor route to influencing insurer Assicurazioni Generali SpA. The solution: Mediobanca on Monday launched an offer for wealth manager Banca Generali SpA worth €6.3 billion ($7.2 billion), to be paid for with its 13% stake in Generali. That looks like a good deal for fans of clear, focused businesses, unencumbered by a big financial stake in another group. However, it potentially creates other headaches, not least of which is leaving Monte Paschi once again without a merger partner – frustrating the government's efforts to offload its stake in Italian banking's thrice-rescued problem child.
Bloomberg
15-04-2025
- Business
- Bloomberg
Banco BPM to Back Paschi Bid for Mediobanca at Investor Meeting
Banco BPM SpA is set to back Banca Monte dei Paschi di Siena SpA 's bid for rival Mediobanca SpA at a crucial investor meeting this week. The board of directors of Banco BPM, which owns a 5% stake in the Siena-based bank, has decided to vote in favor of Monte Paschi's proposal to issue the fresh shares it needs to finance the offer, a spokesperson said on Tuesday.
Bloomberg
12-04-2025
- Business
- Bloomberg
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.
Bloomberg
18-03-2025
- Business
- Bloomberg
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.
Bloomberg
05-03-2025
- Business
- Bloomberg
Paschi CEO to Meet Investors in Milan as Firm Pursues Mediobanca
Banca Monte dei Paschi di Siena SpA Chief Executive Officer Luigi Lovaglio plans to meet more than 30 international investors as he seeks to take over Mediobanca SpA, people familiar with the matter said. The executive has scheduled meetings in Milan this week with US and European investment firms, asset managers and hedge funds to present his strategy and the rationale behind the lender's offer for Mediobanca, said the people, asking to not be named discussing private events.
