Monte dei Paschi and Mediobanca Approve Merger Plan Targeting €3.7 Billion Profit by 2030

Banca Monte dei Paschi di Siena and Mediobanca have approved a full merger plan that will see MPS increase its share capital by up to €1.6 billion, through the issue of up to 272 million new shares, as part of a transaction structured to absorb Mediobanca's remaining independent shareholders into a combined entity under the Monte dei Paschi umbrella.

Under the agreed exchange terms, Mediobanca shareholders will receive 2.45 MPS shares for every Mediobanca share they hold. MPS already holds a stake in Mediobanca, and the transaction covers the approximately 14% of Mediobanca not already in MPS's possession.

APPROVALS REQUIRED

The share-capital increase of up to €1.6 billion will require approval by the extraordinary shareholders' meetings of both MPS and Mediobanca. The transaction also requires Golden Power clearance from the Italian government.

COMBINED GROUP TARGETS €3.7 BILLION PROFIT BY 2030

MPS's 2026–2030 business plan, approved in February 2026, targets net profit of €3.7 billion in 2030. Mediobanca's businesses include investment banking, corporate advisory, and consumer finance through its Compass subsidiary.