MILAN (Reuters) -Monte dei Paschi di Siena has secured 62% of Mediobanca, bourse data showed on Monday, paving the way for a shake-up at the helm of the bid target where long-standing CEO Alberto
Monte dei Paschi Acquires 62% of Mediobanca, CEO Nagel to Depart
MILAN (Reuters) -Monte dei Paschi di Siena has secured 62% of Mediobanca, bourse data showed on Monday, paving the way for a shake-up at the helm of the bid target where long-standing CEO Alberto Nagel is preparing to step down.
Reuters reported last week Nagel would leave his post at the head of the merchant bank, which he has held since 2008, if Monte dei Paschi (MPS) secured a majority of Mediobanca's capital.
The offer will run for a further week from September 16, giving MPS a chance to get closer to the two-thirds majority targeted by its Chief Executive Luigi Lovaglio.
(Reporting by Valentina Za and Gianluca SemeraroEditing by Keith Weir)
