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International Business Times
International Business Times
Business

Italy's Monte Dei Paschi Bids 13.3 Bn Euros For Mediobanca

Mediobanca MPS Italy Euro Monte dei Paschi di Siena Banco BPM UniCredit
Monte dei Paschi says its takeover of Mediobanca would create 'a new national champion' (Credit: AFP)

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca in a potential 13.3 billion euro ($13.9 billion) deal that could help reshape the country's banking sector.

The surprise move comes amid a flurry of recent activity within Italy's banks including potential mergers and acquisitions.

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