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Mediobanca's Banca Generali deal suits Monte dei Paschi bid, MPS investor says

MILAN (Reuters) -A bid by Monte dei Paschi di Siena's acquisition target Mediobanca for Banca Generali is a plus for the takeover project, the head of a leading Monte dei Paschi investor said on Wednesday. To fend off Monte dei Paschi's (MPS) takeover proposal, Mediobanca on Monday announced a 6.3 billion euro bid for wealth manager Banca Generali, a network of financial advisers owned by insurer Generali. Mediobanca CEO Alberto Nagel has said approval from his bank's shareholders for the Banca Generali deal could imply they would then reject the MPS proposal.

MILAN (Reuters) -A bid by Monte dei Paschi di Siena's acquisition target Mediobanca for Banca Generali is a plus for the takeover project, the head of a leading Monte dei Paschi investor said on Wednesday. To fend off Monte dei Paschi's (MPS) takeover proposal, Mediobanca on Monday announced a 6.3 billion euro bid for wealth manager Banca Generali, a network of financial advisers owned by insurer Generali.

Mediobanca CEO Alberto Nagel has said approval from his bank's shareholders for the Banca Generali deal could imply they would then reject the MPS proposal..