Overview
- MPS’s tender has reached about 70.5% of Mediobanca, surpassing the 66.7% bar that enables merger and delisting resolutions, with the reopened offer set to close Monday, Sept. 22.
- CEO Alberto Nagel resigned and, except for Sandro Panizza, most directors also stepped down effective at the Oct. 28 assembly to allow a rapid transition.
- Mediobanca’s board approved annual results showing €1.33 billion in net profit and proposed a €1.15 gross dividend per share while halting the planned buyback.
- Senior executives sold large share blocks in recent days, including roughly 2 million shares by Nagel (about €44 million), 400,000 by DG Francesco Saverio Vinci (≈€8.5 million) and 100,000 by Chair Renato Pagliaro (≈€2.1 million).
- MPS is preparing governance changes with lists due by Oct. 3 and an Oct. 28 vote, and press reports flag succession candidates from inside (Vinci, Gian Luca Sichel) and outside (Riccardo Mulone, Giorgio Cocini, Francesco Pascuzzi), while Siena weighs keeping Mediobanca listed or pursuing a merger that its plan says could unlock synergies and tax benefits.