Mediobanca Plan Excludes Banca Generali Acquisition

Italy's Mediobanca has announced a new three-year plan to return €4.9 billion ($5.7 billion) to shareholders by 2028, primarily through cash dividends and share buybacks, as it seeks to defend against a hostile takeover bid from Banca Monte dei Paschi di Siena (MPS). The plan projects revenue growth to over €4.4 billion and net profit nearing €2 billion by 2028, with wealth management expected to drive future group revenue. Mediobanca has criticized the MPS bid, citing a lack of industrial and financial logic and highlighting significant execution risks. The bank's strategic plan excludes the impact of the pending Banca Generali acquisition, with a shareholder vote on the deal delayed due to mounting opposition. Mediobanca aims to offer a cumulative dividend yield above 30% and maintain diversification through its consumer finance and corporate banking segments. The move is designed to increase shareholder returns and make Mediobanca a less attractive takeover target.