Mps: Government does not exercise golden power over Mediobanca ops

Banca Monte dei Paschi di Siena informs that "the Presidency of the Council of Ministers has resolved, in acceptance of the proposal of the Ministry of Economy and Finance, the non exercise of special powers pursuant to Decree-Law 15 March 2012 No 21, converted into Law 11 May 2012, No 56", the so-called golden power, "with reference to the public exchange offer of Mps on all the ordinary shares of Mediobanca". This was stated in a statement issued by Mps..

In the extraordinary part the Mps shareholders' meeting on 17 April will be called upon to vote on the proposal to 'grant the board of directors the power to increase the share capital in one or more tranches, in divisible form, by 31 December 2025, to be paid in by contribution in kind, to service the voluntary public offering on Mediobanca'. In recent days, the proxies had split in their recommendations on the capital increase to service the takeover bid: Institutional Shareholder Services (Iss) had recommended voting against, while Glass Lewis had suggested voting in favour.