
The board of directors of Banco Bpm unanimously decided not to participate in the MPS meeting on 29 October, citing legal constraints and conflicts of interest deriving from its 3.7% shareholding in the Sienese institution.
AI-generated summary
Banco BPM holds a 3.7% stake in MPS. The MPS assembly is convened to discuss Luigi Lovaglio's strategic plan in response to Intesa Sanpaolo's takeover bid.
The board of directors of Banco Bpm took note of the legal constraints connected to the position of shareholder of MPS and the related conflict of interest, therefore deeming it appropriate not to participate in the meeting of the Sienese institute on 29 October.
This was announced by a spokesperson for the Piazza Meda institute, MPS shareholder with a 3.7% stake.
As far as we know, the council's decision was unanimous. On Thursday the MPS assembly will meet to vote on the plan developed by the CEO, Luigi Lovaglio, with the aim of resisting Intesa Sanpaolo's takeover bid. The project, which also includes an offer on Banco Bpm, appears destined to fail due to the opposition expressed by many Monte shareholders.

The Revenue Agency introduced tax code 7082 to allow road haulage companies to use the extraordinary tax credit for expensive diesel, covering up to 70% of the increased expenditure incurred between March and August 2026.

The next Fed and ECB meetings should confirm a pause in monetary policy. Despite the less solid labor market and pressure on rates, central banks maintain a cautious and restrictive approach to combat inflation.

Speaking at the Confitarma Assembly, the President of the Republic Sergio Mattarella exalted the role of the merchant fleet and navy as vectors of peace, economic pillars and key players in rescue at sea.

Mercedes cut its full-year auto adjusted operating margin guidance to 2-3%. The decision affects the stock on the stock exchange and affects the entire European sector.

Tata Motors has collected subscriptions equal to 87.81% of Iveco's ordinary capital through its takeover bid, for a value of approximately 3.43 billion euros. The final results will be communicated by October 29th.

European stock markets reduce losses and Milan drops 0.15%, supported by Wall Street futures. Sales are weighing on the auto sector after the cut in Mercedes' estimates, while government bond yields are rising due to the French crisis.