The share of Banca Popolare di Milano collapsed at the opening of the markets: -2,37% at the beginning of the session in Piazza Affari, with the share trading at 0,515 euro. The significant loss of the institute in Piazza Meda was caused by the outcome of last Saturday's fiery shareholders' meeting, when the majority of shareholders rejected the remote vote proposed by CEO Andrea Bonomi.
Although Bonomi has declared that "remote voting was not designed for the transformation into a Spa" and that the same transformation plan into a hybrid Spa "is not an attack against anyone, it only represents the moment for change", the vote of the meeting seems to indicate a clear refusal by the shareholders with respect to the process of change of the bank wanted by the CEO.
