Monte dei Paschi di Siena (MPS) has received approval from its board of directors for swap offers relating to Banco BPM and Banca Generali. The plan, presented by CEO Luigi Lovaglio during an extraordinary board meeting, moves forward the potential exchange of assets between the banks. Notably, the share exchange offers for each bank are being pursued as separate operations. Four minority board members abstained from the vote on the proposals. Further details regarding the specifics of the swap offers are yet to be disclosed, but this decision represents a significant step in MPS’s restructuring efforts. The move signals a potential reshaping of the Italian banking landscape.