Mediobanca GM says take-up in Monte dei Paschi bid to reach 80%, lead to merger

Group 1 - Mediobanca's general manager indicated that the take-up in Monte dei Paschi di Siena's (MPS) bid for the merchant bank would reach 80%, making a merger inevitable [1][2] - MPS has achieved a 62% ownership threshold so far, and further take-up is expected when the tender period reopens on September 16 [2] - A merger is viewed as a rational decision given the differences between the two banks and the lack of synergies, with Mediobanca shareholders expected to own more than 60% of the combined entity [3] Group 2 - MPS paid a significant price for Mediobanca, primarily in shares, indicating the value placed on the acquisition [4] - The general manager reassured staff that customer relationships would be maintained and emphasized the importance of preserving the role of Mediobanca employees, who number around 5,500 [4]