Paschi Eyes Mediobanca Deal Approval With 74% of Capital to Vote

Rome marching on Milan via Siena. 63.64% of the shareholders of Monte dei Paschi, led by the Ministry of Economy, have approved the capital increase of 13.3 billion euros of the Tuscan bank aimed at the purchase of Mediobanca, which in turn is the first shareholder of the country's safe, Generali. If the transaction goes through, an offer in shares only that will start between June and July, it will be the culmination of a historic battle betwee…

Paschi Eyes Mediobanca Deal Approval With 74% of Capital to Vote

Investors owning 74% of Banca Monte dei Paschi di Siena SpA convened Thursday, putting Chief Executive Officer Luigi Lovaglio on track to go ahead with his bid for rival Mediobanca SpA.

The shareholders of MPS voted to the tune of more than 86% of the capital increase intended for the acquisition of the Milanese business bank.