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Italy Clears Path for Monte dei Paschi’s Takeover Bid for Mediobanca

By  |  July 3, 2025

State-backed Italian lender Banca Monte dei Paschi di Siena (MPS) has confirmed it will formally launch its takeover bid for financial giant Mediobanca on July 14, following regulatory approval from Italy’s financial markets watchdog. The announcement marks the latest step in a high-stakes effort to reshape Italy’s banking landscape.

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    According to Reuters, the offer document has been cleared for distribution to investors, paving the way for the deal to move forward. MPS also revealed it had secured unconditional approval from Italy’s antitrust authority, removing a key regulatory hurdle.

    Monte dei Paschi, one of the country’s oldest banks, emerged from a prolonged restructuring process after a state bailout in 2017. The bank stunned Italy’s financial sector earlier this year when it made an unexpected move for Mediobanca, a larger institution with a stronghold in wealth management, corporate and investment banking, and consumer finance, per Reuters.

    Despite the strategic rationale touted by MPS — combining its traditional commercial banking footprint with Mediobanca’s digital and specialized financial services — the deal has faced stiff resistance. Mediobanca, widely regarded as a pillar of Italian finance, has pushed back against what it considers a hostile takeover.

    Last week, MPS received further backing in the form of European Central Bank (ECB) approval for the offer, including scenarios where the bank ends up with less than 50% ownership of Mediobanca. This flexibility could prove pivotal, especially given the involvement of Italy’s influential Del Vecchio and Caltagirone families. As Reuters notes, the two billionaire families hold a combined 27% stake in Mediobanca and are widely expected to support the bid by tendering their shares.

    Source: Reuters