Italy’s Banca Monte dei Paschi di Siena launched an 13.3 billion-euro ($13.86 billion) offer to buy peer Mediobanca Banca di Credito Finanziario, the latest sign of dealmaking appetite among European banks.

Italian bank Monte dei Paschi di Siena said Friday that it was launching a bid for its larger rival Mediobanca in a potential 13.3 billion euro ($13.9 billion) deal that

Banca Monte dei Paschi di Siena SpA made a surprise offer to acquire larger rival Mediobanca SpA in a deal valued at €13.3 billion ($13.9 billion), adding a new twist in a series of takeover attempts that are shaking up Italy’s banking industry.