Source: European Parliament
Priority question for written answer P-000356/2025
to the Commission
Rule 144
Gaetano Pedulla’ (The Left)
On 24 January, the bank Monte dei Paschi di Siena (MPS) announced a EUR 13.3 billion buyout bid for Mediobanca. The Italian State, through the Ministry of Economy, still has an 11.7 % share in MPS, despite the obligation to sell the entire stake by 2024 set by the European Commission, which in 2017 authorised the bank’s rescue, waiving State aid rules in doing so.
Since 2017, MPS has received a total of EUR 7 billion in public funding and has undertaken costly staff redundancy plans – the last of which affected 4 125 employees – again with the financial support of the State.
It should also be noted that, despite the size of the public share, the government in fact appoints the bank’s top management.
In view of the above, can the Commission answer the following questions:
- 1.Does the costly financial transaction announced by MPS – an institution rescued from bankruptcy with public funds – comply with EU rules on State aid (Article 107 TFEU)?
- 2.Does it comply with the primary objective of maintaining financial stability within the meaning of Article 127(1) TFEU, given that MPS’s current capitalisation is EUR 8.10 billion, while Mediobanca’s is EUR 13.75 billion?
- 3.Could the Ministry of Economy and Finance be authorised to participate in the announced capital increase of MPS if it were to make such a request?
Submitted: 27.1.2025