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Monte dei Paschi Rejects Banco BPM Bid

Monte dei Paschi shareholders overwhelmingly rejected CEO Luigi Lovaglio's proposal for an exchange offer to buy rival lender Banco BPM. The decision halts the planned acquisition attempt.

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FILE PHOTO: CEO of Banca Monte dei Paschi di Siena , Luigi Lovaglio, looks on as he leaves after the Bank of Italy annual assembly in Rome, Italy, May 29, 2026.

BANCA MONTE DEI PASCHI SIENA shareholders rejected an exchange offer to acquire BANCO BPM SPA with 91% of votes during Thursday afternoon trading in Italy.