Lovaglio: "We welcome the interest in Montepaschi"

“We welcome the interest in Montepaschi”. The CEO of MPS said it, Luigi Lovaglioin his speech at the Mediobanca CEO Conference. And he underlined: “The rebirth of Montepaschi in recent years has led us to become a leading player. When a bank is also recognized at an institutional level as a jewel, it is clear that the standard of any operation naturally becomes higher”. “For us – continued Lovaglio – it is important to continue working in this direction, because I truly believe that our duty is to make the value of Monte Paschi even more recognizable than it is today. And I believe that this will bring benefits to all stakeholders and all shareholders”.

Montepaschi and Bpm

“There is a procedure and there are rules. I want to stick to this. Together with the board of directors we are fully committed to examining all options in the interest of all stakeholders and shareholders. This is a duty that I feel like confirming to the market.” This was underlined by the CEO of MPS, Luigi Lovaglio, in his speech at the Mediobanca CEO Conference, referring to the new prospects offered by Intesa Sanpaolo’s takeover bid for the group and by the proposed Bpm Bank.

Mediobanca chapter

The integration of Mediobanca with MPS “is on schedule and I increasingly believe that it is one of the best initiatives to face the challenges of the market and to offer unique and complete services to our customers. We have a great opportunity in front of us because we are among the most dynamic operators in the sector”. Lovaglio underlined and then added: “I firmly believe that we should make our powerful brands even more recognizable and visible, uniting the historic brand of Monte Paschi with the historic brand of Mediobanca. I believe that this is a unique opportunity for the market, which will be able to benefit from the specific services that we are able to offer.” Furthermore, he continued, “we have before us the possibility of combining different skills, but in any case at a very high level. We have the ability to provide a complete service that no one else can offer.” “The ‘passivity rule’ exists to protect shareholders and we fully respect it. Our duty – he concluded – is to make the value of our bank even more recognizable than it is today”.