Italy $29 Billion Banca Monte dei Paschi di Siena CEO Luigi Lovaglio & 2 Largest Shareholders under Investigation for Market Manipulation & Regulatory Obstruction in $18.8 Billion (€16 Billion) Hostile Takeover of Italy Financial Group Mediobanca, 2 Largest Shareholders are Italy Real Estate & Construction Giant Francesco Gaetano Caltagirone and Italy Del Vecchio Family (EssilorLuxottica) Luxembourg Investment Holding Company Delfin
28th November | Hong Kong
Italy (Bank) Banca Monte dei Paschi di Siena ($29 billion market value) CEO Luigi Lovaglio & 2 largest shareholders are under investigation for market manipulation & regulatory obstruction in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca. In 2025 September, Italy (Bank) Banca Monte dei Paschi di Siena ($24 billion market value) secured 86.3% shareholding in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca, disclosed in regulatory filing (22/9/25). In 2025 September, Italy (Bank) Banca Monte dei Paschi di Siena ($11 billion market value) secured 62.3% shareholding in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca. In 2025 September, Italy financial group Mediobanca rejected the improved $18.8 billion hostile takeover offer by Banca Monte dei Paschi di Siena Bank, citing the offer lacked industrial rationale & inadequate valuation. Mediobanca: “The Board of Directors therefore reiterates that the Offer lacks industrial rationale as well as in convenience for Mediobanca shareholders. In addition, the Board of Directors notices, also based on the support of its Financial Advisors, that the New Consideration: 1) expresses a valuation of Mediobanca that is entirely inadequate compared to the intrinsic value of Mediobanca’s share, also taking into account the outlook of the “One Brand-One Culture” Plan extended to 2028, and does not adequately remunerate the contribution that Mediobanca would make to the overall value of the combined entity; and 2) − also in light of the size of the share component of the New Consideration compared to the cash component, continues to place on Mediobanca shareholders most of the risks associated with achieving the strategic objectives of the Offer defined by MPS and specifically identified by Mediobanca in the Issuer’s Notice … … The New Consideration is therefore in itself not sufficient, also in light of the risks of dis-synergies and destruction of value that characterize the Offer (as represented in the Issuer’s Notice), to change the previous assessment of the Consideration as not fair and inadequate expressed by the Board of Directors in the Issuer’s Notice.” Mediobanca – The Mediobanca group is a premier specialized financial group offering Wealth Management, Consumer Banking and Corporate & Investment Banking services. Its impeccable reputation in Italy is the result of nearly eight decades of success driven by a responsible approach to business and services that meet the highest standards of excellence. Monte dei Paschi di Siena Bank – The Monte dei Paschi di Siena Bank, founded in 1472 as a Monte di Pietá (Pawn agency) to lend aid to the underprivileged classes of Siena, is considered the oldest bank in the world. Today it is the leader of one of the top five banking groups in Italy, with significant market shares in all the sectors in which it operates. The Gruppo Montepaschi is active all over Italy and in the major international financial centers, with operations ranging from traditional banking activity to asset management and private banking (mutual funds, wealth management, pension funds, and life insurance policies), from investment banking to innovative business financing (project finance, merchant banking, and financial counseling), with a special vocation for “family” accounts and small and medium businesses.
“ Italy $29 Billion Banca Monte dei Paschi di Siena CEO Luigi Lovaglio & 2 Largest Shareholders under Investigation for Market Manipulation & Regulatory Obstruction in $18.8 Billion (€16 Billion) Hostile Takeover of Italy Financial Group Mediobanca, 2 Largest Shareholders are Italy Real Estate & Construction Giant Francesco Gaetano Caltagirone and Italy Del Vecchio Family (EssilorLuxottica) Luxembourg Investment Holding Company Delfin “
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Italy $24 Billion Banca Monte dei Paschi di Siena Secured 86.3% Shareholding in $18.8 Billion (€16 Billion) Hostile Takeover Offer of Italy Financial Group Mediobanca Disclosed in Regulatory Filing (22/9/25), Mediobanca Had Earlier Rejected Offer Citing Lacked of Industrial Rationale & Inadequate Valuation
23rd September – Italy (Bank) Banca Monte dei Paschi di Siena ($24 billion market value) has secured 86.3% shareholding in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca, disclosed in regulatory filing (22/9/25). In 2025 September, Italy (Bank) Banca Monte dei Paschi di Siena ($11 billion market value) secured 62.3% shareholding in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca. In 2025 September, Italy financial group Mediobanca rejected the improved $18.8 billion hostile takeover offer by Banca Monte dei Paschi di Siena Bank, citing the offer lacked industrial rationale & inadequate valuation. Mediobanca: “The Board of Directors therefore reiterates that the Offer lacks industrial rationale as well as in convenience for Mediobanca shareholders. In addition, the Board of Directors notices, also based on the support of its Financial Advisors, that the New Consideration: 1) expresses a valuation of Mediobanca that is entirely inadequate compared to the intrinsic value of Mediobanca’s share, also taking into account the outlook of the “One Brand-One Culture” Plan extended to 2028, and does not adequately remunerate the contribution that Mediobanca would make to the overall value of the combined entity; and 2) − also in light of the size of the share component of the New Consideration compared to the cash component, continues to place on Mediobanca shareholders most of the risks associated with achieving the strategic objectives of the Offer defined by MPS and specifically identified by Mediobanca in the Issuer’s Notice … … The New Consideration is therefore in itself not sufficient, also in light of the risks of dis-synergies and destruction of value that characterize the Offer (as represented in the Issuer’s Notice), to change the previous assessment of the Consideration as not fair and inadequate expressed by the Board of Directors in the Issuer’s Notice.” Mediobanca – The Mediobanca group is a premier specialized financial group offering Wealth Management, Consumer Banking and Corporate & Investment Banking services. Its impeccable reputation in Italy is the result of nearly eight decades of success driven by a responsible approach to business and services that meet the highest standards of excellence. Monte dei Paschi di Siena Bank – The Monte dei Paschi di Siena Bank, founded in 1472 as a Monte di Pietá (Pawn agency) to lend aid to the underprivileged classes of Siena, is considered the oldest bank in the world. Today it is the leader of one of the top five banking groups in Italy, with significant market shares in all the sectors in which it operates. The Gruppo Montepaschi is active all over Italy and in the major international financial centers, with operations ranging from traditional banking activity to asset management and private banking (mutual funds, wealth management, pension funds, and life insurance policies), from investment banking to innovative business financing (project finance, merchant banking, and financial counseling), with a special vocation for “family” accounts and small and medium businesses.
Italy $11 Billion Banca Monte dei Paschi di Siena Secured 62.3% Shareholding in $18.8 Billion (€16 Billion) Hostile Takeover Offer of Italy Financial Group Mediobanca, Mediobanca Had Earlier Rejected Offer Citing Lacked of Industrial Rationale & Inadequate Valuation
10th September – Italy (Bank) Banca Monte dei Paschi di Siena ($11 billion market value) has secured 62.3% shareholding in $18.8 billion (€16 billion) hostile takeover offer of Italy financial group Mediobanca. In 2025 September, Italy financial group Mediobanca rejected the improved $18.8 billion hostile takeover offer by Banca Monte dei Paschi di Siena Bank, citing the offer lacked industrial rationale & inadequate valuation. Mediobanca: “The Board of Directors therefore reiterates that the Offer lacks industrial rationale as well as in convenience for Mediobanca shareholders. In addition, the Board of Directors notices, also based on the support of its Financial Advisors, that the New Consideration: 1) expresses a valuation of Mediobanca that is entirely inadequate compared to the intrinsic value of Mediobanca’s share, also taking into account the outlook of the “One Brand-One Culture” Plan extended to 2028, and does not adequately remunerate the contribution that Mediobanca would make to the overall value of the combined entity; and 2) − also in light of the size of the share component of the New Consideration compared to the cash component, continues to place on Mediobanca shareholders most of the risks associated with achieving the strategic objectives of the Offer defined by MPS and specifically identified by Mediobanca in the Issuer’s Notice … … The New Consideration is therefore in itself not sufficient, also in light of the risks of dis-synergies and destruction of value that characterize the Offer (as represented in the Issuer’s Notice), to change the previous assessment of the Consideration as not fair and inadequate expressed by the Board of Directors in the Issuer’s Notice.” Mediobanca – The Mediobanca group is a premier specialized financial group offering Wealth Management, Consumer Banking and Corporate & Investment Banking services. Its impeccable reputation in Italy is the result of nearly eight decades of success driven by a responsible approach to business and services that meet the highest standards of excellence. Monte dei Paschi di Siena Bank – The Monte dei Paschi di Siena Bank, founded in 1472 as a Monte di Pietá (Pawn agency) to lend aid to the underprivileged classes of Siena, is considered the oldest bank in the world. Today it is the leader of one of the top five banking groups in Italy, with significant market shares in all the sectors in which it operates. The Gruppo Montepaschi is active all over Italy and in the major international financial centers, with operations ranging from traditional banking activity to asset management and private banking (mutual funds, wealth management, pension funds, and life insurance policies), from investment banking to innovative business financing (project finance, merchant banking, and financial counseling), with a special vocation for “family” accounts and small and medium businesses.
Italy Financial Group Mediobanca Rejects Improved $18.8 Billion Hostile Takeover Offer by Banca Monte dei Paschi di Siena, Cites Offer Lacked Industrial Rationale & Inadequate Valuation
7th September – Italy financial group Mediobanca has rejected the improved $18.8 billion hostile takeover offer by Banca Monte dei Paschi di Siena, citing the offer lacked industrial rationale & inadequate valuation. Mediobanca: “The Board of Directors therefore reiterates that the Offer lacks industrial rationale as well as in convenience for Mediobanca shareholders. In addition, the Board of Directors notices, also based on the support of its Financial Advisors, that the New Consideration: 1) expresses a valuation of Mediobanca that is entirely inadequate compared to the intrinsic value of Mediobanca’s share, also taking into account the outlook of the “One Brand-One Culture” Plan extended to 2028, and does not adequately remunerate the contribution that Mediobanca would make to the overall value of the combined entity; and 2) − also in light of the size of the share component of the New Consideration compared to the cash component, continues to place on Mediobanca shareholders most of the risks associated with achieving the strategic objectives of the Offer defined by MPS and specifically identified by Mediobanca in the Issuer’s Notice … … The New Consideration is therefore in itself not sufficient, also in light of the risks of dis-synergies and destruction of value that characterize the Offer (as represented in the Issuer’s Notice), to change the previous assessment of the Consideration as not fair and inadequate expressed by the Board of Directors in the Issuer’s Notice.” Mediobanca – The Mediobanca group is a premier specialized financial group offering Wealth Management, Consumer Banking and Corporate & Investment Banking services. Its impeccable reputation in Italy is the result of nearly eight decades of success driven by a responsible approach to business and services that meet the highest standards of excellence. Monte dei Paschi di Siena Bank – The Monte dei Paschi di Siena Bank, founded in 1472 as a Monte di Pietá (Pawn agency) to lend aid to the underprivileged classes of Siena, is considered the oldest bank in the world. Today it is the leader of one of the top five banking groups in Italy, with significant market shares in all the sectors in which it operates. The Gruppo Montepaschi is active all over Italy and in the major international financial centers, with operations ranging from traditional banking activity to asset management and private banking (mutual funds, wealth management, pension funds, and life insurance policies), from investment banking to innovative business financing (project finance, merchant banking, and financial counseling), with a special vocation for “family” accounts and small and medium businesses.
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