Monte dei Paschi CEO bid plan faces shareholder revolt as Caltagirone votes no

Francesco Gaetano Caltagirone, second-largest shareholder of Banca Monte dei Paschi di Siena, will vote against CEO Luigi Lovaglio's plan to bid on two competitors, intensifying a power struggle at the world's oldest bank. The move signals boardroom discord and potential strategic paralysis, which could weigh on the bank's shares and complicate its turnaround.