Milano

New MPS management 'has nothing to do with proceedings'

Profumo, Viola announce legal action

New MPS management 'has nothing to do with proceedings'

(see related) Milano, August 23 - Troubled lender Monte dei Paschi di Siena (MPS) said Friday that its current management "has nothing to do with proceedings" related to Japanese investment bank Nomura or MPS's purchase of rival bank Antonveneta. Earlier Friday, consumer association Codacons said it filed a report to Italy's stock market watchdog Consob in February against the current management of MPS, in which it claims it provided "incorrect or only partially complete" information about the financing of its Antonveneta acquisition, as well as a state-debt transaction the lender executed with Nomura. Current Chairman Alessandro Profumo and CEO Fabrizio Viola said they were taking legal action.

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