State-backed Italian bank Banca Monte dei Paschi di Siena said its bid for rival Mediobanca would start on July 14 after the country's markets watchdog approved the offer document for investors.

Italy's bailed-out Monte dei Paschi di Siena on Friday launched a 13.3 billion euro all-share takeover offer for larger domestic peer Mediobanca.

For over eight years, I’ve been reporting on struggles at the world’s oldest bank, Banca Monte dei Paschi di Siena in Siena, Italy, where I am from.

Monte dei Paschi launched a near-$14 billion offer to buy counterpart Mediobanca, a fresh twist in the consolidation of Italy’s crowded banking market.

Italy’s bailed-out Monte dei Paschi di Siena on Friday launched a 13.3 billion euro all-share takeover offer for larger domestic peer Mediobanca.

Banca Monte dei Paschi di Siena launched a surprise $14 billion-takeover offer for its peer in January.

Monte dei Paschi di Siena downplayed the potential impact of ongoing market turbulence on its 13-billion-euro offer for Mediobanca, telling CNBC it expects to complete the deal this summer.

An Italian referendum on Sunday could derail Banca Monte dei Paschi’s rescue plan. That in turn could complicate Italy’s efforts to clean up its banking sector.

Monte dei Paschi is Europe's oldest bank and it's also in dire financial trouble. This, in and of itself, is not a dire problem for we know how to fix bad banks. Investors put in more capital and ...