Mediobanca Acquisition Update

Mediobanca Banca di Credito Finanziario SpA, a European investment banking boutique operating in Italy, has received approval from the European Central Bank for its potential takeover by Banca Monte dei Paschi di Siena.

Key Approval Milestone

The European Central Bank has given its approval for the acquisition, allowing Monte dei Paschi to gain control of Mediobanca. This development is a significant step in the wave of merger activity within Italy’s banking sector.

Post-Approval Plans

Following the approval, Monte dei Paschi plans to raise €500 million in debt to support the deal. The integration plan, detailing funding strategies and addressing IT and cyber security risks, is expected to be presented within six months.

Timeline and Next Steps

• The integration plan is expected to be presented within six months.
• The plan will detail funding strategies and address IT and cyber security risks.
• The €500 million debt raise is planned to support the acquisition.