Why Italy's Pre-Eminent Investment Bank Wants to Avoid a Merger
Mediobanca used to cut backroom deals for Italy’s powerful. On Friday, the investment bank and wealth manager got a $14-billion offer from Monte dei Paschi to combine, in an all-stock deal that would more than double the bidder's market capitalization. Prime Minister Giorgia Meloni said Italians should be proud that Monte dei Paschi, a former basket case in which the state still owns 12%, is now so ambitious.
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