Bid discount indicates scepticism over MPS bid for Italian rival Mediobanca
MILAN/ROME (Reuters) -The discount to market prices represented by Monte dei Paschi's bid (MPS) for Mediobanca widened further on Monday, signalling deepening investor doubts over the bailed out Tuscan bank's offer for a bigger rival. On Friday, the state-backed lender launched a surprise 13.3 billion euro all-share ($13.9 billion) buyout bid for Mediobanca, whose board meets on Tuesday to start reviewing the offer. Based on Italian rules, the board will be able to give formal advice to shareholders only once the bid's prospectus is public, in a few months' time.