Mediobanca's board will meet on Tuesday to discuss a bid for the Italian merchant bank by state-backed Monte dei Paschi di Siena (MPS), a person close to the situation said. On Friday, MPS joined the consolidation wave sweeping Italian banking with a 13.

Shares in Monte dei Paschi (MPS) fell again on Monday, extending Friday's losses, signalling lingering investor doubts over the bailed out Tuscan bank's bid for bigger rival Mediobanca .

MPS shares were down 1.6% by 0820 GMT, having fallen 2% on Monday and 7% on Friday. Based on the proposed exchange ratio, that entails a value of 14.735 euros for each Mediobanca share, which on Tuesday traded instead at 16.435 euros.

Milan mayor Giuseppe Sala on Wednesday sided with Mediobanca in a takeover battle launched by state-backed Monte dei Paschi di Siena (MPS), signalling the financial saga was becoming increasingly political.

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for all Mediobanca shares in a potential 13.3 billion euro ($13.9 billion) deal.

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 ...

ROME (AP) — Italian bank Monte dei Paschi di Siena announced Friday it was launching a 13.3 billion euro ($13.9 billion) takeover bid for larger peer Mediobanca in a surprise move that could reshape the country’s banking sector.

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.

Launching an unwelcome takeover of a rival bank used to be a sign of dangerous excess. These days, it seems to be the most logical option available to would-be acquirers. Three bids and one possible approach are currently on the table in Europe,

Italian banking union FABI does not expect redundancies from a potential deal between Banca Monte dei Paschi (MPS) and Mediobanca, its head Lando Maria Sileoni said on Wednesday. Last week, MPS joined the consolidation wave sweeping Italian banking with a 13.

Monte dei Paschi, Italy’s oldest bank, launched a 13.3 billion-euro ($13.9 billion) takeover bid last week for larger Milan-based peer Mediobanca that aims to reshape the Italian banking sector. Monte dei Paschi said that the tie-up would generate 700 million euros ($733 million) a year in pretax synergies, and deliver significant profits.