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Just 35% of shareholders supported the acquisition of the bank, falling short of the needed 50%.
“This represents a lost chance for the growth of our bank and the Italian financial sector,” stated Mediobanca CEO Alberto Nagel.
The outcome of the vote might pose a challenge for Nagel, who sought to safeguard against a takeover effort by bigger entities in the Italian banking industry through the acquisition of a rival.
In January, Banca Monte dei Paschi di Siena proposed to acquire Mediobanca for 13.3 billion, yet it was turned down by the board of directors.
Simultaneously, two prominent investors in Mediobanca, billionaire Gaetano Caltagirone and the Del Vecchio family, back the sale of the Monte Paschi bank. They additionally possess shares in Assicurazioni Generali (an insurance firm of which Banca Generali is a subsidiary) and in Monte Paschi.
source: ft.com
“This represents a lost chance for the growth of our bank and the Italian financial sector,” stated Mediobanca CEO Alberto Nagel.
The outcome of the vote might pose a challenge for Nagel, who sought to safeguard against a takeover effort by bigger entities in the Italian banking industry through the acquisition of a rival.
In January, Banca Monte dei Paschi di Siena proposed to acquire Mediobanca for 13.3 billion, yet it was turned down by the board of directors.
Simultaneously, two prominent investors in Mediobanca, billionaire Gaetano Caltagirone and the Del Vecchio family, back the sale of the Monte Paschi bank. They additionally possess shares in Assicurazioni Generali (an insurance firm of which Banca Generali is a subsidiary) and in Monte Paschi.
source: ft.com
