Now it is under siege, with former bailout victim Banca Monte dei Paschi di Siena on Friday launching a hostile, 13.3 billion euro all-share bid. True to Mediobanca’s heritage, a deal may suit ...

Barclays analyst Paola Sabbione maintained a Buy rating on Banca Monte dei Paschi di Siena SPA (0RK6 – Research Report) today. The company’s shares closed last Friday at €7.04. According to ...

Italy’s bailed-out Monte dei Paschi di Siena on Friday launched a 13.3 billion euro all-share takeover offer for larger domestic peer Mediobanca.

Shares in Italian banks Mediobanca (OTC:MDIBY) and Monte dei Paschi (MPS) experienced a drop at market open on Monday, continuing the downward trend from Friday.

Bailed-out lender Monte dei Paschi di Siena (MPS) said on Friday it was launching a 13.3 billion euro ($13.9 billion) all-share buyout offer for Mediobanca, in the latest surprise twist of a complex Italian banking saga.

On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.3 billion euro ($13.96 billion) all-share offer to buy Mediobanca, which was welcomed by the Italian government, but puzzled analysts and investors.

The surprise move is the latest amid a wave of consolidation in the country’s banking industry in recent months and would create Italy’s third-largest entity in the sector.

Milan: Mediobanca s board of directors on Tuesday rejected a 13.3 billion euro takeover bid by smaller rival Monte dei Paschi di Siena (MPS).

Tuscany’s bailed-out Monte dei Paschi had unexpectedly launched a 13-billion-euro all-share takeover proposal for Mediobanca.

Mediobanca SpA has rejected Banca Monte dei Paschi di Siena SpA’s takeover bid, turning the unsolicited approach into a hostile one.

Italian bank Mediobanca on Tuesday rejected a takeover offer by state-backed rival Monte dei Paschi di Siena , saying a tie-up would be detrimental to its shareholders because it lacked any strategic and financial rationale.