Shares in Monte dei Paschi di
Siena (MPS) bank soared 22% to 0.33 euros a share in Monday
trading. The share price earlier jumped 11.8%, taking it just
above the 30-cent threshold as some 154 million MPS shares, 5.2%
of its total capital, changed hands. Also on Monday, the MPS
board met to examine the industrial plan of new CEO Marco
Morelli and to approve the lender's third-quarter financial
results. The bank is currently working to execute a rescue
project approved in July providing for a five-billion-euro
capital boosting plan and the sale of 28 billion euros in bad
loans. The plan could reportedly include 3,000 layoffs.
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