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Euronews
Euronews
Eleanor Butler

Italy’s Monte dei Paschi bank gets ECB nod for Mediobanca takeover

Monte dei Paschi di Siena (MPS) said on Wednesday that the European Central Bank had approved its proposed takeover of larger Italian lender Mediobanca.

MPS, which still counts the state as its largest shareholder since a 2017 bailout, launched the bid in January — setting in motion one of the many consolidation battles currently playing out in Italy’s banking sector.

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