ECB Clears €13.5 Billion Monte dei Paschi-Mediobanca Merger

The European Central Bank (ECB) has given its approval for Italian lender Monte dei Paschi's proposed €13.5 billion takeover of Mediobanca, clearing a crucial regulatory hurdle.

This development marks an important step forward in the merger process, which was announced earlier this year. The ECB's green light gives Monte dei Paschi the go-ahead to proceed with its plans to acquire Mediobanca in a deal valued at $16 billion.