Moody's lowers Mediobanca's outlook due to MPS

(ANSA) - ROME, JAN 31 - Moody's has confirmed Mediobanca's ratings but changed the outlook from stable to negative due to "the downward pressure on Mediobanca's creditworthiness that could derive from the combination with a weaker group such as MPS", amid the Tuscan lender's takeover bid.
    Mediobanca has rejected the 13-billion-euro takeover bid launched by domestic rival Monte dei Paschi (MPS) saying it was strongly destructive of value.
    In a surprise move, the bailed-out Monte dei Paschi di Siena, the world's oldest bank, launched last Friday a 13.3 billion euro all-share buyout bid for premier merchant bank Mediobanca, offering 23 of its own shares for every 10 Mediobanca shares - a 5% premium on the previous night's closing price.
    In a note issued announcing the bid, MPS said the union with Mediobanca would create "a new national champion in the Italian banking sector, which ranks third in key segments with a strong combination of products and services, characterized by a highly diversified and resilient business mix, with relevant industrial synergies". (ANSA).