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Mediobanca Eyes Sal Oppenheim Division

Aims to emerge as a pan European investment banking group

Mediobanca, the Italy-based investment bank, is planning to expand its presence outside its domestic market by acquiring the advisory business of Germany-based Sal Oppenheim, one of the major victims of the global financial crisis – reported The Financial Times.

Reportedly, Mediobanca is conducting due diligence on the German bank’s investment banking and equity capital markets business. It has been reported that Deutsche Bank had also carried out due diligence to acquire majority stake in Sal Oppenheim.

At present, Mediobanca has offices in Paris, London, Madrid and Frankfurt, whose contribution is not significant to the overall business. Analysts are of the opinion that by adding an investment bank in Germany, Mediobanca can complement its position to advise medium-sized firms outside Italy, reported the newspaper.