Monte dei Paschi Faces Takeover After Shareholders Reject Defense Plan
Monte dei Paschi di Siena's bid to fend off an Italian rival reportedly failed to secure shareholder backing, leaving the bank facing a takeover and loss of independence.
By Valentina ZaMonte dei Paschi di Siena MIL:BMPS looked set to lose its independence after more than 550 years, with its attempt to fend off Italy's biggest bank having failed to secure the backing of shareholders.MPS CEO Luigi Lovaglio had sought investor support for a defence plan to keep Intesa…