Monte Paschi to Start Mediobanca Bid After Final Approval (2)

Banca Monte dei Paschi di Siena SpA is set to take its hostile takeover offer for Mediobanca SpA to shareholders later this month, after the bid to create Italy’s third-largest bank received regulatory approval.

Italy’s market watchdog gave its greenlight to Monte Paschi’s offer document, the last step needed to go ahead with the deal, the Siena-based bank said on Wednesday. The tender period will start at 8:30 a.m. local time on July 14 and run until 5:30 p.m. on Sept. 8.

Paschi also received the unconditional approval for the bid from the Italian Competition and Market Authority, according to ...