MPS focuses on Mediobanca integration over Banco BPM
CEO Luigi Lovaglio says Monte dei Paschi is focused on integrating Mediobanca rather than pursuing Banco BPM after its 16 billion euro acquisition last year.
Xurve View
Insights:
Xurve View
Banca Monte dei Paschi di Siena CEO Luigi Lovaglio dismissed merger discussions with rival Banco BPM, saying the bank prioritizes integrating its €16 billion Mediobanca acquisition. The statement follows reports from Italian news agency Adnkronos about potential talks between the two lenders. Lovaglio's focus on internal restructuring signals a pause in M&A for the Italian banking sector.
MPS and Banco BPM held talks shortly after Lovaglio's April reappointment, according to Adnkronos. The discussions centered on a previously discussed potential combination of the rivals.
