MPS and Mediobanca in line with the stock market on the first day of the takeover bid.

Weak start for Mediobanca and MPS on the first day of the Siena exchange offer on the Milanese institute. Piazzetta Cuccia at the beginning of the session gives up 0.9% to 18.08 euros, Monte 1.3% to 6.82 euros, almost in line with the list price which loses around 1 percent. The offer will end on September 8th if there are no extensions. MPS has put 2,533 of its shares on the table for each Mediobanca shares. Today the CEO of Piazzetta Cuccia, Alberto Nagel, will explain in details, in a conference call at 3pm with the investors, the reasons behind the bank's rejection of the offer.