We are moving towards a postponement of the board of directors of Monte dei Paschi di Siena which should have met on July 28 to approve the financial results for the six months ended June 30, 2017.
According to what Radiocor reported, the board of directors chaired by Alessandro Falciai, scheduled for Friday, should be postponed in order to wait for the publication of the two decrees of the Ministry of the Economy following which the precautionary recapitalization and therefore the official bailout could begin of the Sienese Institute.
We recall that both provisions were signed on Monday 24 July by MEF number one, Pier Carlo Padoan, and are currently being examined by the Court of Auditors, which has up to 60 days to express itself, but which in all probability it will do it in much less time. According to rumors, at the start of the recapitalization operation in the Treasury's portfolio a stake of around 55% of the “new” Monte should finish. Then, depending on the requests for reimbursement, the share in the hands of the State could rise up to 70%.
