Banca Monte dei Paschi di Siena: clarification regarding 'Chianti classico' transaction

With reference to press news published by Italian weekly 'Panorama' regarding the 'Chianti Classico' deal, Banca Monte dei Paschi di Siena strongly denies that there is any risk of extraordinary losses associated with the transaction.
The Bank clarifies that, under the New Financial Instruments issuance procedure, the Board of Directors was only submitted a proposal for deal restructuring which, in light of changed scenario conditions, may allow for a reduction of costs and partial recovery of property rights, with additional profit & loss and operational benefits in both the short and long term.