Overview
- MPS’s takeover offer for Mediobanca was an autonomous decision by bank management, with no interference from the Economy Ministry, Giorgetti told the Chamber.
- The November 2024 accelerated bookbuild was run by Banca Akros, which collected orders and presented the final book; high demand and a premium of over 5% led to upsizing the offer from 7% to 15%.
- Akros was chosen after invitations via Clifford Chance to Akros, Bank of America, Citigroup and Jefferies, with Akros offering the best terms; the bookrunner said no qualifying investor was excluded.
- The European Commission concluded on 21 October 2025 that the disposal was open, transparent and competitive, and Consob in September found no concerted action among MPS shareholders.
- The Treasury will retain its remaining 4.86% MPS stake for strategic reasons and will not present a board slate, reporting €1.6 billion raised from sales and a residual holding worth about €1.2 billion, while Milan prosecutors are probing the Mediobanca deal and CEO Luigi Lovaglio has received a notice, according to reports.