Monte dei Paschi di Siena completes €16bn takeover of Mediobanca in landmark European banking merger
By
The Economist
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Summary
Italian banking giant Monte dei Paschi di Siena (MPS), the world's oldest surviving lender, completed a €16bn ($18bn) takeover of Mediobanca in September 2025—the biggest European banking merger in years. The deal involved MPS acquiring an investment bank that owns a 13% stake in Generali, a major insurer. The merger was marked by corporate drama including the abrupt sacking of MPS's CEO by the board in April, followed by his rapid reinstatement by shareholders.
Key quotes
· 3 pulledFOR MONTHS Italian finance has been gripped by the €16bn ($18bn) takeover by Monte dei Paschi di Siena (MPS), the world's oldest surviving lender, of Mediobanca
Completed last September, it was the biggest European banking merger in years, and one of the biggest deals in any industry on the old continent.
It involved the abrupt sacking of MPS's boss by the board in April and his rapid reinstatement by shareholders.
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