Monte dei Paschi completed the acquisition of an 86.3% stake in Mediobanca for €13.3bn.

Monte dei Paschi, an Italian bank, completed the acquisition of an 86.3% stake in Mediobanca, an investment bank, for €13.3bn. The takeover offer, which was welcomed by the government but puzzled analysts and investors, comes after previous attempts to return Monte dei Paschi to the private sector failed.