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Italy bank merger wave heats up as Mediobanca eyes Banca Generali
Italy bank merger wave heats up as Mediobanca eyes Banca Generali

Italian bank Mediobanca, itself battling to fend off a hostile takeover by a rival, announced on Monday a 6.3-billion-euro ($7.2 billion) bid to buy wealth management firm Banca Generali. Mediobanca is itself trying to fend off a hostile takeover by state-backed Banca Monte Paschi di Siena (MPS) as the Italian banking industry sees a wave of hostile bids.