The bank that “no one wanted has put itself center stage.” The audacious move reflects the rapid turnaround of Monte Paschi in recent years under Chief Executive Officer Luigi Lovaglio.

the person said, asking not to be named discussing private information. Representatives for Mediobanca and Monte Paschi declined to comment.

(Bloomberg) -- Mediobanca SpA has rejected Banca Monte dei Paschi di Siena SpA’s takeover bid, turning the unsolicited approach into a hostile one. The takeover offer presented by Monte Paschi ...