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Monte Dei Paschi Plans to Take Full Control and Delist Mediobanca
Monte dei Paschi di Siena will merge Mediobanca into its group, preserving its brand and holding a 13% stake in insurer Generali after delisting the bank from the stock market.
- On Feb 17, Monte dei Paschi di Siena's board approved taking full control of Mediobanca and delisting it while preserving its brand, ending weeks of uncertainty over the merchant bank's future.
- Last year, MPS acquired 86% of Mediobanca after a 2017 bailout and 2023-24 reprivatisation, and last week Luigi Lovaglio said the delisting decision was pending to maximise savings.
- It will merge Mediobanca into the group and create the unlisted Mediobanca-branded entity holding the 13% stake in Generali, the largest investor in the insurer.
- Directors led by Francesco Gaetano Caltagirone opposed full integration, creating division, and the board did not clarify how it will acquire the remaining 14% stake, MPS said on Tuesday.
- MPS is due to unveil the strategic plan for the combined group on February 27, framing near-term implementation of the board decision.
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11 Articles
11 Articles
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Coverage Details
Total News Sources11
Leaning Left1Leaning Right2Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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