Glass Lewis urges Monte dei Paschi investors to back cash call

MILAN (Reuters) – Leading governance adviser Glass Lewis has recommended shareholders in state-owned Italian bank Monte dei Paschi di Siena back a planned 2.5 billion euro ($2.5 billion) new share issue, a document showed.

The cash call is “a core component of the capital consolidation plan which is key to the company’s long-term viability,” Glass Lewis said in a report, an extract of which was seen by Reuters.

($1 = 0.9998 euros)

(Reporting by Valentina Za; editing by Agnieszka Flak)


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