Source: Reuters (via feed)
The boards of Italy’s Banca Monte dei Paschi di Siena (MPS) and Mediobanca are scheduled to approve the terms on which MPS will purchase the 14% stake it does not already own. The approval is set to take place on Tuesday. The terms also cover the merger between MPS and Mediobanca.
The meeting will address the financial conditions for the transaction. MPS plans to acquire the remaining shares in Mediobanca as part of the process. The exact terms of the deal will be discussed by both boards.
BizTrendWire Insight:
The boards’ approval involves financial arrangements for MPS to buy Mediobanca shares and a merger agreement between the two banks.
The boards’ approval involves financial arrangements for MPS to buy Mediobanca shares and a merger agreement between the two banks.
