Mediobanca has rejected a €7 billion takeover bid from Banca Monte dei Paschi di Siena (MPS), deeming it 'strongly destructive of value.' Mediobanca argues that merging with MPS would erode shareholder value and compromise its independent advisory model. MPS sees the merger as a chance to create a larger banking group with potential cost synergies. The two banks have fundamentally different strategies, with Mediobanca focusing on high-margin investment banking and wealth management, while MPS remains reliant on retail banking. Teljes cikk (Euronews.com)