MPS bank shares soar 30% (2)

(ANSA) - Milan, October 24 - Shares in Monte dei Paschi di Siena (MPS) bank soared 30% to 0.35 euros a share in Monday trading. It was taken out of trading for excessive voltaility after some 14% of its total capital changed hands. Also on Monday, the MPS board met to examine the business 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 at Italy's third-biggest and the world's oldest bank.