Italy to support Paschi’s bid to takeover Mediobanca, Bloomberg says

Italy will support Banca Monte dei Paschi Siena’s (BMDPF) bid to take over Mediobanca (MDIBY), believing a successful move would benefit the country’s economy, Jerrold Colten and Sonia Sirletti of Bloomberg reports. Finance Minister Giancarlo Giorgetti said at an event on Friday that Monte Paschi “has achieved exceptional results, has a plan and has made a market proposal – if the market responds, we’ll be happy.”