Finance
Mediobanca Readies Defenses After Unsolicited Bid by Paschi
- Bank says takeover offer by Monte Paschi wasn’t agreed upon
- Italian government supports a deal, increasing chances
A Mediobanca Premier bank branch, operated by Mediobanca SpA in Milan.
Photographer: Francesca Volpi/BloombergThis article is for subscribers only.
Mediobanca SpA’s chief executive officer said a takeover attempt by smaller rival Banca Monte dei Paschi di Siena SpA was unsolicited, as the Italian investment bank prepared to respond and possibly defend itself.
“The offer has not been agreed on and the board of directors will meet in the next few days to examine it and express its assessments in this regard with the aim of protecting the interests of all stakeholders,” CEO Alberto Nagel said in a letter to staff seen by Bloomberg.