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)
