Monte dei Paschi Faces Takeover After Defense Plan Falls Short
Monte dei Paschi di Siena appeared set to lose its independence after its defense plan failed to secure shareholder backing, as an Italian rival neared a takeover.
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…