Banco BPM will back Monte dei Paschi's share issue for Mediobanca bid

Anima Holding SpA

15/04/2025 16:46

MILAN, April 15 (Reuters) - Banco BPM BAMI.MI will back a share issue proposed by Tuscan bank Monte dei Paschi di Siena (MPS) BMPS.MI to fund its hostile bid for rival Mediobanca MDBI.MI, a spokesperson for the Italian lender said on Tuesday.

Banco BPM, Italy's third-largest bank, holds a 5% stake in MPS, which has made a strong comeback since being bailed out by the government in 2017.

In January MPS launched a surprise bid for Milan-based Mediobanca, with the aim of combining its own commercial network with its peer's wealth management and investment banking activities.

Banco BPM, based in the northern region of Lombardy, said it would vote in favour of issuing the necessary MPS shares in a vote scheduled on April 17, the spokesperson said.

 (Reporting by Andrea Mandalà, editing by Giulia Segreti)

 ((Giulia.Segreti@tr.com; +39.06.80307714;))