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Italy's market regulator has found no evidence of a secret agreement involving Monte dei Paschi di Siena and some of its shareholders to gain control of Mediobanca and insurer Generali, Il Sole-24 Ore reported on Saturday.
Monte dei Paschi di Siena's board will meet on Friday to discuss an investigation by Milan prosecutors into the Italian bank's CEO Luigi Lovaglio and its top two shareholders, a person with knowledge of the matter told Reuters.
The takeover of Mediobanca by state-backed Monte dei Paschi di Siena (MPS) is at the centre of a criminal probe in Milan that is targeting both MPS and its top two shareholders and has dealt a blow to MPS's share price.
Shares in Monte dei Paschi di Siena fell for a third straight session on Monday after the bailed-out bank and its two main investors were drawn into a probe over the takeover of Mediobanca.
Italian tycoon Francesco Gaetano Caltagirone, Francesco Milleri, the chairman of Delfin, the holding company of late billionaire Leonardo del Vecchio, and Banca Monte dei Paschi CEO Luigi Lovaglio are under investigation for alleged market rigging and hindering market supervision, Italian daily Corriere della Sera reported on Thursday.
The Italian lender, considered the world's oldest bank still in operation, reported a rise in third-quarter net profit though revenue edged down slightly.
Italy's Monte dei Paschi di Siena on Friday posted a surprise rise in third quarter profit and said it would present a new strategy in the first quarter of 2026 following the acquisition of peer Mediobanca.
Italian merchant bank Mediobanca on Wednesday reported an 11.8% yearly fall in quarterly net profit, hit by costs tied to its defence against Banca Monte dei Paschi's (MPS) takeover bid, despite steady revenues.
Monte dei Paschi (MPS) is focused on completing in the shortest time possible its integration with Mediobanca , the CEO of the Tuscan bank said when asked about possible interest for Banco BPM.
Monte dei Paschi di Siena (MPS) on Friday proposed Alessandro Melzi d'Eril, CEO of fund manager Anima Holding , as the new chief of Mediobanca, the Milanese merchant bank it took over last month.
Monte dei Paschi di Siena is expected to name JPMorgan banker Vittorio Grilli as the new Mediobanca chair, two people close to the matter have said, as it finalises its picks for the top jobs at the merchant bank it acquired this month.
Monte dei Paschi di Siena's bold takeover of Mediobanca is the biggest deal yet in a merger wave transforming Italian banking, and its CEO has said it will position the combined entity for a further round of consolidation.
Monte dei Paschi di Siena has secured 86.3% of Mediobanca , bourse data showed, as a bid dubbed by a top Italian financial executive as "the most exotic" in the current round of dealmaking ended on Monday.
Monte dei Paschi di Siena has secured more than two thirds of Mediobanca's capital, bourse data showed on Friday, crossing the ownership threshold needed to push through any extraordinary shareholder decisions.
Mediobanca's CEO Alberto Nagel, poised to step down after losing the battle to resist a takeover bid from Monte dei Paschi di Siena , thanked the bank's staff in a farewell letter on Thursday.
Alberto Nagel is poised to step down as chief executive of the Italian merchant bank Mediobanca on Thursday, after state-backed lender Banca Monte dei Paschi secured a majority stake, ending his 17-year tenure.
S&P Global Ratings said on Thursday it had placed Mediobanca's 'BBB+' long-term credit rating on CreditWatch negative after Monte dei Paschi di Siena (MPS) secured 62% of the merchant bank in a takeover bid.
Mediobanca General Manager Francesco Saverio Vinci said the take-up in Monte dei Paschi di Siena's bid would reach 80%, making a merger inevitable, as he sought to reassure staff on a conference call.
Monte dei Paschi di Siena (MPS) has secured control of Mediobanca , with a 16 billion euro ($19 billion) share-and-cash offer.
Monte dei Paschi di Siena has secured 62% of Mediobanca , bourse data showed on Monday, paving the way for a shake-up at the bid target where long-standing CEO Alberto Nagel is preparing to step down.