Monte dei Paschi CEO to analyze alternative offer on capital boosting plan

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On Friday, the bank's board instructed Chief Executive Marco Morelli to deal with the offer, Monte dei Paschi said in a statement, adding that Morelli had started an in-depth analysis of the proposal.

The bank is currently working to execute an ambitious turnaround plan based on a 5 billion euro capital boosting plan and the sale of 28 billion euros' worth of bad loans.

A source close to the matter said on Saturday that Passera's proposal did not contain details about possible investors interested in injecting capital into the Tuscan bank.

(Reporting by Francesca Landini; Editing by Kevin Liffey)