Market turbulence will not impact Mediobanca deal, Monte dei Paschi CEO says

Key Points

Monte dei Paschi di Siena downplayed the potential impact of ongoing market turbulence on its 13-billion-euro offer for Mediobanca, telling CNBC it expects to complete the deal this summer.
Analysts have been divided over the benefits of the deal, with some warning that there are limited synergies in combining two different banks.
Acquiring Mediobanca will allow the world’s oldest bank to once again be a “protagonist” in a second round of consolidation, Monte dei Paschi CEO Luigi Lovaglio said.

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