A fiery Board of Directors is expected future in Siena. The council of Monte dei Paschi di Siena meets to evaluate the Foundation's request for a capital increase from the second quarter of 2014, against the decision passed by the board last November for a recapitalization within the first quarter. The assembly scheduled for the end of December could thus find itself having to vote on two proposals. The goal of the new president of the Foundation Antonella Mansi it is having more time to be able to sell bank shares at a reasonable value and thus be able to repay the debt. Without the postponement, the Organization will not vote in favor in the shareholders' meeting. However, the postponement would sound like a distrust at the top and in recent days there have been speculations of a possible resignation of the Profumo-Viola ticket if a scenario of this type had materialized. However, a bank spokesman said that the president and CEO "will work as always in the interest of the bank and its capital strengthening".
Meantime the association of small shareholders a member of Conapa Action Mps has invited tomorrow's Monte dei Paschi di Siena board of directors to evaluate its own proposal on the recapitalisation. The association “appeals to the Foundation's willingness to evaluate this solution as a positive opportunity for synthesising its own needs and those of the Small Shareholders, in the common interest of protecting and enhancing the bank's assets; in fact, a first tranche of increase in the first quarter of 2014 would allow the current shareholders an easier subscription of the pertinent share, lightening the market for option rights and the burden of the underwriting syndicate”. A failure of the increase would open nationalization scenarios. Indeed, the market should not expect a white knight. Today the CEO of Intesa Sanpaolo, for a long time hypothetically indicated as a possible buyer of Mps, has declared that it will not intervene in any way in support of Mps.
In the meantime a Florence It was held the first hearing this morning before the court for the compensation lawsuit brought by Banca Mps against the Japanese investment bank Nomura, the former president Giuseppe Mussari and the former general manager Antonio Vigni. Judge Ludovico Delle Vergini has left the decision on a possible reunion of this case with other similar cases that Banca Mps and Fondazione Mps have also initiated in Florence both against Nomura, Mussari and Vigni, and against Deutsche Bank to the president of the third civil section of the court .
