Monte Paschi Drops for Third Day Amid Probe of Mediobanca Deal

Banca Monte dei Paschi di Siena SpA shares fell for a third consecutive day as investors are digesting a sweeping investigation into its takeover of Mediobanca SpA.

The stock was down as much as 3.3% on Monday, after prosecutors described an alleged multiyear strategy by two prominent Italian investors to take control of the Milan-based investment bank, according to documents seen by Bloomberg News.