Delfin

Delfin, the holding company controlled by the Del Vecchio heirs and Monte dei Paschi's largest shareholder, has reached an agreement with Intesa Sanpaolo under which it will deliver its Mps stake and vote against CEO Luigi Lovaglio. The move, reported by la Repubblica, marks a significant twist in the battle over the future of the Tuscan bank and is likely to influence the outcome of the shareholder vote.

Delfin, the holding company of the Del Vecchio family, has reached an agreement with Intesa Sanpaolo over the sale of its stake in Monte dei Paschi di Siena and will vote against CEO Luigi Lovaglio at the bank's shareholder meeting. The move adds fresh tension to the Mps privatisation saga, while other Italian financial news includes Bank of Italy asking Banca Ifis for 215 million euros in adjustments and a strong edition of WHITE Milano trade show.

Banca Monte dei Paschi di Siena's board has given the green light to Delfin's proposal as part of the plan to revive the bank within an Intesa Sanpaolo-linked framework. Meanwhile, Asian stock markets opened higher, led by a strong Nikkei, Opec+ chose to keep oil production unchanged for November, and Spain is heading toward early elections.