Italy Didn’t Influence Paschi’s Bid on Mediobanca, Minister Says

Italy didn’t exert undue influence over the Banca Monte dei Paschi di Siena SpA takeover of smaller rival Mediobanca SpA, Finance Minister Giancarlo Giorgetti said.

The ministry “did not interfere or exercise any pressure,” Giorgetti told lawmakers on Thursday, stating that the transaction was “decided autonomously, and, as shareholders, we have taken note of the company’s choices and their rationale.”

Milan prosecutors have opened a probe into the takeover of Mediobanca. They are investigating alleged market manipulation and obstruction of regulators by Monte Paschi Chief Executive Officer Luigi Lovaglio, Delfin Chairman Francesco Milleri and billionaire Francesco Gaetano Caltagirone ...