The stock market week starts very badly for the Mps stock, which collapses by more than four points at the start of the session, clearly behind the Ftse Mib. The sales were triggered by the news that the capital increase will have to be larger than expected: well 2,5 billion euros.
This is the amount announced yesterday by the Ministry of the Economy. The go-ahead for the operation, which will allow the Bank to make a substantial repayment of the Monti bonds, should already come from a meeting of the Board of Directors convened for 24 September.
"Banca Monte dei Paschi di Siena confirms that the Restructuring Plan prepared according to the guidelines agreed with the European Commission is being finalised, in coordination with the MEF and the Bank of Italy - reads a note from the Institute -. At present it is envisaged that the Bank's Board of Directors will start the discussion of the guidelines of the Restructuring Plan already during the next meeting, scheduled for 11 September, in order to be able to obtain the approval of the same during the meeting of the Board of Administration scheduled for 24 September 2013. After approval, the Restructuring Plan will be sent to the MEF for subsequent submission to the European Commission”.
