Monte Paschi’s Board Approves Plan to Delist Mediobanca

Banca Monte dei Paschi di Siena SpA’s board approved a plan to fully integrate Mediobanca SpA and delist the investment bank it acquired last year, paving the way for the next phase of the group’s strategy.

The integration will be carried out through a merger by incorporation, leading to Mediobanca’s removal from trading, Monte Paschi said in a statement late Tuesday, without giving a timeline or saying how it will buy the remaining Mediobanca shares on the market.