Fondaco

Monte dei Paschi di Siena is back in focus as CEO Luigi Lovaglio refused to withdraw his plans, rejecting claims that the bank's shareholder meeting amounts to a referendum between his proposal and that of Intesa Sanpaolo. Fondaco, a shareholder, said it will vote against the share offer, deepening the dispute over the bank's future direction.

MPS chief executive Andrea Lovaglio is not backing down from the bank's plans, while shareholder Fondaco says it will vote against the public offers involved. The standoff between management and a key investor keeps attention on the future strategy of the Italian bank, with Corriere della Sera reporting the details.