MPS shareholders reject merger with Mediobanca

Monte dei Paschi di Siena shareholders voted against a merger with Mediobanca, with 63.65% opposing the proposal. This merger was part of CEO Luigi Lovaglio's strategy to counter a €33 billion takeover bid from Intesa Sanpaolo. Intesa had urged shareholders to reject the merger due to its own acquisition plans. Earlier this year, MPS acquired Mediobanca, and Lovaglio's strategy also includes potential acquisitions of Banco BPM and Banca Generali, totaling around €34 billion.