Banca Monte has been trying to repel a takeover by Italy's largest bank.

The board of Italy's third-largest and the world's oldest bank, Monte dei Paschi di Siena (MPS), was on Thursday weighing CEO Luigi Lovaglio's proposals for two potential…

CEO Luigi Lovaglio's plan aims to bolster MPS and fend off Intesa Sanpaolo's 30.5-billion-euro Opas. Approved with nine votes in favour and four abstentions.