MILAN (Reuters) -Monte dei Paschi di Siena has secured 86.3% of Mediobanca, bourse data showed, as a bid dubbed by a top Italian financial executive as "the most exotic" in the current round of
Monte dei Paschi Acquires 86.3% Stake in Mediobanca in Unique Bid
Overview of the Acquisition
MILAN (Reuters) -Monte dei Paschi di Siena has secured 86.3% of Mediobanca, bourse data showed, as a bid dubbed by a top Italian financial executive as "the most exotic" in the current round of dealmaking ended on Monday.
Details of the Bid
The high take-up, which sharply reduces the size of Mediobanca's floating capital, makes it more likely that the state-backed Tuscan bank will opt to take full control of the newly acquired rival and delist its shares from the stock exchange.
Implications for Mediobanca
(Reporting by Valentina Za; Editing by Crispian Balmer)
