(Alliance News) - Putting an end to speculation about a possible rapprochement between UniCredit and Monte dei Paschi di Siena, Chairman Pier Carlo Padoan stated: "Rekindling old flames is dangerous," firmly ruling out any possibility of a deal with the Sienese bank, as reported by La Repubblica on Thursday.
Meanwhile, MPS is convening its board of directors today to finalize the rules regarding the outgoing board's list, which will be submitted to the European Central Bank ahead of the extraordinary shareholders' meeting scheduled for February 4.
Following the Ministry of Economy and Finance's openness to a possible reconfirmation, the nominations committee's stance on CEO Luigi Lovaglio may soften, La Repubblica continues.
By the end of March, MPS is expected to present its new industrial plan to the ECB, which will include its strategy for its subsidiary Mediobanca.
By Claudia Cavaliere, Alliance News reporter
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