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.
