MPS: Lovaglio says the board has a duty to examine all options

It is the duty of Monte dei Paschi’s board of directors to ‘examine all the options’ on the table, says chief executive Luigi Lovaglio in an interview during a conference of banking CEOs organised by Mediobanca. “On the board, we are fully committed to analysing all options in the interests of the bank’s shareholders and stakeholders,” says Lovaglio, implicitly referring to Intesa Sanpaolo’s public takeover bid and Banco BPM’s offer for a merger on equal terms. Regarding the passivity rule that restricts Rocca Salimbeni’s shares, he stated that “it exists to protect all shareholders and we respect it” and reiterated that it is the board’s duty to examine “the best options” in their interests.

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