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Italy's Monte dei Paschi bids 13.3 bn euros for Mediobanca
Italy's Monte dei Paschi bids 13.3 bn euros for Mediobanca
Business and Economy
by  AFP

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca in a potential 13.3 billion euro ($13.9 billion) deal that could help reshape the country's banking sector. Monte dei Paschi (MPS) said its bid aimed "to create a new national champion in the Italian banking sector, with a number three position in key end markets".