There is the ECB supervisory board gives green light to MPS takeover bid for Mediobanca. It reveals it Reuters, citing sources close to the dossier. The decision, taken by the supervisory board through the written procedure – explains the press agency -, now awaits formal ratification by the Governing Council of the ECB.. It will then be communicated to MPS. The news triggered an immediate reaction from the Monte dei Paschi title, which on the Ftse Mib gains over 4% to 7,195 euros, recording the best performance within the Italian banking sector. Also rising Mediobanca shares, which marked +2,64% to 19,64 euros.
Mps Mediobanca: the green light from the ECB supervisory board
The official authorization of the Eurotower on the takeover bid launched at the end of January by Monte dei Paschi on Mediobanca should be announced shortly, within the middle of next week. This is the most anticipated step of an operation that could redesign the Italian banking sector. After that, the road could be all downhill, with the arrival of the approval of the DG European Comp and Consob, expected five days later.
Once all the necessary authorizations have been obtained, MPS will be able to turn to the market, opening the membership period to'offered already in JulyThe expected duration is three to four weeks in total.
In addition to the ECB's authorization, MPS is waiting to know the minimum capital threshold of Mediobanca to be acquired to validate the takeover bid. CEO Luigi Lovaglio says he is aiming for over 66%.
Ft on Mps: EU Commission checks on 15% sale by Mef
After the prosecution, Europe is also investigating. According to the Financial Times, following complaints from some large investors who were allegedly excluded from the bidding process, the European Commission would be examining the controversial sale of the 15% stake of Monte dei Paschi di Siena by the Italian government carried out in November 2024.
UniCredit, the Norwegian oil fund and BlackRock were among the investors interested in buying shares in the Treasury sale, but were told that the offer had already been closed by Banca Akros, the bank controlled by Banco BPM that was managing the procedure, sources cited by the British newspaper said.
The shares were then sold to Anima, Banco Bpm, Delfin and Caltagirone through an accelerated bookbuilding (Abb) procedure. All four investors paid a 5% premium on the shares.
According to what was revealed by FT, the Commission is examining the details of the operation to verify whether the process was a fair and open market operation. This preliminary assessment could lead to the opening of a'state aid investigation, but no decision has been made yet, sources warned.
During the auction, no indication of the order price was given to investors, which was “unusual,” the newspaper said, saying UniCredit had placed a buy order for 10% of the shares, but when Banca Akros responded to the follow-up call, UniCredit was told that the book was closed.
Meanwhile, according to The print, Piazzetta Cuccia would have brought to the Public Prosecutor's Office seven dossiers concerning MPS already presented to the ECB, the EU and Consob.
Mediobanca updates its plan
Mediobanca will surprisingly release the following on Friday 27 June: Financial target projections to 2028 (the current plan stops at 2026), thus aligning them temporally with the objectives indicated by Ps, whose takeover bid should start in July. The targets, of course, will not include Banca Generali: the meeting to discuss the operation on the institute will be held on September 25th.
Mediobanca maintains the strategic lines of the “One Brand One Culture” plan for 2026, the targets of which had been revised upwards in February.
