Latest news with #MontePaschi
Mint
2 days ago
- Business
- Mint
Monte Paschi May Lower Threshold for Mediobanca Bid: Repubblica
(Bloomberg) -- Banca Monte dei Paschi di Siena SpA is considering reducing the minimum acceptance rate in its bid to acquire Italian rival Mediobanca SpA, La Repubblica reported on Saturday, citing financial sources it didn't identify. Monte Paschi could reduce the threshold to 51% or lower from the current rate of almost 67%, the newspaper said. Chief Executive Officer Luigi Lovaglio is willing to ease the condition to reflect a widening divergence in the share prices of both banks after Mediobanca's recent rally, according to the report. The changing price dynamic means Monte Paschi would have to offer an additional €2 billion ($2.27 billion) to persuade Mediobanca shareholders to accept at current levels, Repubblica said. A reduction in the acceptance rate to 50% would only require an additional €1 billion, a sum Monte Paschi could handle, it said, citing analysts. Italy's oldest lender made the surprise all-share bid in January in a deal that valued the target at about €13.4 billion at the time. Mediobanca's market capitalization has since risen to more than €17 billion, while Paschi's market value has increased at a proportionally slower rate. The foray is one of a series of overlapping deals currently in play that stand to reshape Italy's financial industry. In late April, Mediobanca itself launched a takeover bid for Banca Generali SpA, the private banking arm of Assicurazioni Generali SpA, as a way to escape from Monte Paschi's clutches. Mediobanca holds 13% of Assicurazioni Generali and the proposed deal would swap its stake in the insurance company for Banca Generali shares. More stories like this are available on
Bloomberg
3 days ago
- Business
- Bloomberg
Monte Paschi May Lower Threshold for Mediobanca Bid: Repubblica
Banca Monte dei Paschi di Siena SpA is considering reducing the minimum acceptance rate in its bid to acquire Italian rival Mediobanca SpA, La Repubblica reported on Saturday, citing financial sources it didn't identify. Monte Paschi could reduce the threshold to 51% or lower from the current rate of almost 67%, the newspaper said. Chief Executive Officer Luigi Lovaglio is willing to ease the condition to reflect a widening divergence in the share prices of both banks after Mediobanca's recent rally, according to the report.
Yahoo
22-05-2025
- Business
- Yahoo
Banco BPM urges UniCredit to drop bid if it can't meet govt's demands
MILAN (Reuters) -Banco BPM on Thursday urged suitor UniCredit to abandon its buyout offer, given the bank led by CEO Andrea Orcel has told authorities it cannot comply with the conditions Rome has imposed to authorise the BPM takeover. UniCredit on Wednesday secured from market regulator Consob a 30-day suspension of its tender offer for Banco BPM as it seeks to persuade the government the conditions cannot be met in their current form. A government source told Reuters on Wednesday the government has no intention of altering its demands. Banco BPM said UniCredit had not made clear to investors what it had told authorities in Rome instead, meaning the conditions Italy has imposed in the name of national security interests cannot be implemented. Such a predicament "which was also never disclosed by UniCredit to the market, should in itself cause the offer to lapse", the bank said. UniCredit has raised objections to the prescriptions and engaged with the government officials who are in charge of monitoring they are implemented in an effort to prove it is impossible to comply. Orcel has antagonised Italy's government by swooping on BPM in November, a move that thwarted Rome's efforts to encourage a tie-up between BPM and state-backed Monte dei Paschi di Siena. 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
09-05-2025
- Business
- Bloomberg
Monte Paschi, Mediobanca Profits Beat as Investors Eye Deals
Banca Monte dei Paschi di Siena SpA joined rival Mediobanca SpA in posting higher than expected profits during the first three months of the year, as investors are focused on their respective acquisition plans. Monte Paschi's net income in the three months through March rose to €413 million ($464 million), compared with an analyst estimate for €335 million, according to a statement on Friday.
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.
