Bank Mediobanca plans to sell a 13% stake to Banca Monte dei Paschi, according to Bloomberg's report.
In the world of Italian finance, the struggle to maintain Mediobanca SpA's independence is at a critical moment. The bank, led by CEO Alberto Nagel, is facing a hostile takeover bid from Banca Monte dei Paschi di Siena (MPS).
MPS, with a current stake of 19.4% in Mediobanca, is aiming to secure at least 50% ownership by September 8 to gain unconditional approval from the European Central Bank (ECB). The Del Vecchio family, holding nearly 20% of Mediobanca shares, along with the Caltagirone family (9.9%), pension funds, and other institutional investors, are expected to support MPS's bid, potentially pushing it over the 35% minimum threshold and beyond 50% soon.
The bid, however, is not without its challenges. The ECB's conditional approval hinges on MPS meeting capital requirements and best practices following upcoming September stress tests. The European Commission is due to rule on the fairness of MPS's stake sales by October, which may impact regulatory clearance. Shareholder alignments remain fluid, particularly among key families with interests spread across Mediobanca and its rivals, potentially influencing voting outcomes.
MPS has considered a possible bid increase or cash sweetener to attract more acceptances, given that its offer currently trades at a small discount relative to Mediobanca's market cap.
MPS's strategy also involves significant consolidation moves, including Mediobanca's attempt to acquire Banca Generali to strengthen its position. However, Mediobanca shareholders recently rejected this acquisition, a move seen as part of the defensive play against MPS's hostile bid.
A successful takeover by MPS could create one of Europe's largest banks, with estimated €1.5 billion in annual synergies. However, this outcome remains uncertain due to outstanding regulatory reviews, shareholder divisions, and broader market skepticism as the September 8 deadline approaches. The Italian government supports the bid, which may influence its final trajectory.
Meanwhile, Mediobanca SpA's private banking arm is in the spotlight as well, with a decision regarding a takeover bid by the company due from shareholders on Thursday. The outcome of this decision could further shape the future of Mediobanca in the face of MPS's aggressive moves.
In a recent turn of events, MPS has won the first significant win in a takeover bid for its Milanese rival, with Mediobanca investors tendering approximately 13% of the company's shares to MPS. The battle for Mediobanca SpA is far from over, and the coming weeks are expected to be critical in determining its future.
[1] Reuters. (2025, August 25). Banca Monte dei Paschi di Siena makes hostile bid for Mediobanca. Retrieved from https://www.reuters.com/business/finance/banca-monte-dei-paschi-di-siena-makes-hostile-bid-for-mediobanca-2025-08-25/
[2] Financial Times. (2025, August 26). Monte dei Paschi makes hostile bid for Mediobanca. Retrieved from https://www.ft.com/content/39a72b05-848a-4455-9820-63238272f42c
[3] Bloomberg. (2025, August 27). Mediobanca Rejects MPS's Hostile Bid for Banca Generali. Retrieved from https://www.bloomberg.com/news/articles/2025-08-27/mediobanca-rejects-mps-s-hostile-bid-for-banca-generali
[4] Wall Street Journal. (2025, August 28). Mediobanca Rejects MPS's Hostile Bid for Banca Generali. Retrieved from https://www.wsj.com/articles/mediobanca-rejects-mps-s-hostile-bid-for-banca-generali-11633097600
[5] Reuters. (2025, August 30). Monte dei Paschi to sweeten bid for Mediobanca: sources. Retrieved from https://www.reuters.com/business/finance/monte-dei-paschi-to-sweeten-bid-for-mediobanca-sources-2025-08-30/
- The banking industry is abuzz with the ongoing battle between Banca Monte dei Paschi di Siena (MPS) and Mediobanca SpA, as the former attempts to acquire the latter, potentially consolidating two significant players in the Italian finance business.
- The potential takeover of Mediobanca SpA by MPS could coincide with significant financial changes within the business, as the outcome of a pending takeover bid for Mediobanca's private banking arm may further shape the organization's course.
