Mps, the board revokes Lovaglio's proxies, also suspended as managing director

Luigi Lovaglio steps down from the leadership of Mps. Monte dei Paschi's board of directors confirmed in a note what had been anticipated by Radiocor: the revocation of the delegation of powers to CEO Luigi Lovaglio, claiming for himself all the related powers and also resolving 'with immediate effect the suspension from the duties held as general manager'.

From now until 15 April next, the management of ordinary activities will be entrusted to Deputy General Manager Maurizio Bai, thus guaranteeing the full continuity of the bank's activities. Rocca Salimbeni's note explains that the decision was taken "taking into account" the inclusion of Lovaglio, as a candidate for managing director, in the list for the election of the majority of directors presented by Plt Holding and Plt spa.

The draft report on the financial statements of Banca Mps, made available to shareholders today ahead of the shareholders' meeting, details the state of the art of the investigation by the Milan Public Prosecutor's Office into the alleged concert on the Mediobanca takeover bid. In particular, the report reads: 'Among the numerous types of conduct alleged against the three suspects, the chief executive officer is alleged to have acted in concert with the other co-defendants in the takeover bid through which the parent company would have acquired control of Mediobanca.

The bank of Rocca Salimbeni reminds the shareholders that "on the basis of the provisional indictment, the offences of market manipulation and obstructing the exercise of the functions of the Public Supervisory Authorities have been alleged against the aforementioned CEO, as well as the chairman of the board of directors of Delfin and the person indicated as 'top management' of the 'Caltagirone Group'.