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Monte dei Paschi shareholders reject merging Mediobanca into group - Finance news and analysis from Global Banking & Finance Review
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Monte dei Paschi shareholders reject merging Mediobanca into group

Published by Global Banking & Finance Review

Posted on October 29, 2026

1 min read

· Last updated: October 29, 2026

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Monte dei Paschi Shareholders Vote Down Mediobanca Merger Proposal

Shareholder Decision on Proposed Merger

Background of the Merger Proposal

SIENA, Oct 29 (Reuters) - Monte dei Paschi di Siena shareholders rejected on Thursday, with 63.65% of the votes, a proposal by CEO Luigi Lovaglio to merge Milanese merchant bank Mediobanca into the group.

Details of the Shareholder Vote

Reporting and Editorial Credits

(Reporting by Valentinza Za, writing by Francesca Piscioneri, editing by Alvise Armellini)

Key Takeaways

  • Shareholders voted down the merger of Mediobanca into Monte dei Paschi with 63.65% rejecting the proposal, marking a defeat for CEO Luigi Lovaglio’s defence strategy against Intesa Sanpaolo’s takeover bid (mediobanca.com)
  • Leading proxy advisors ISS and Glass Lewis had backed the merger as part of the defence plan, but substantial investor opposition—including from Norges Bank Investment Management and the Caltagirone group—turned the vote against it (ca.marketscreener.com)
  • The merger had earlier received ECB clearance on September 3, 2026, and proposed an exchange ratio of 2.45 MPS shares for each Mediobanca share, aiming to delist Mediobanca and integrate operations, but the vote rejection stalls these plans (emarketstorage.it)

References

Frequently Asked Questions

What merger proposal did Monte dei Paschi shareholders reject?
They rejected a proposal to merge Milanese merchant bank Mediobanca into Monte dei Paschi.
Who proposed the merger between Monte dei Paschi and Mediobanca?
The merger was proposed by Monte dei Paschi CEO Luigi Lovaglio.
What percentage of shareholders voted against the merger?
63.65% of Monte dei Paschi shareholders voted to reject the merger proposal.
Where did the shareholders' vote take place?
The vote took place in Siena, Italy.

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