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flag Monte dei Paschi di Siena offers 13.3 billion euros to buy Mediobanca, reshaping Italy's banking sector.

flag Monte dei Paschi di Siena, Italy's oldest bank, has launched a 13.3 billion euro ($13.9 billion) takeover bid for Mediobanca, its larger peer. flag The offer, valuing Mediobanca's shares at 15.99 euros each, a 5% premium to their closing price, aims to reshape Italy's banking sector and generate significant annual savings. flag The deal reflects growing M&A activity in Italian banking, following similar moves by other major banks.

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