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

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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