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Italy’s market regulator Consob has ruled that all three slates of nominees submitted for the board of Monte dei Paschi di Siena (MPS) are fully legitimate, according to a source familiar with the matter. The decision follows a complaint filed by MPS’s current board over a slate presented by small investor PLT Holding, which aims to secure another term for CEO Luigi Lovaglio.

Consob, working closely with the European Central Bank, dismissed the complaint and confirmed that none of the candidate lists violate regulations. The regulator also clarified that its decision is final, aiming to remove uncertainty after MPS previously described its discussions with authorities as preliminary.

The ruling comes ahead of the April 15 shareholder vote to appoint a new board and CEO, with governance advisers preparing voting recommendations. While PLT supports Lovaglio’s continuation, the current MPS board is backing Fabrizio Palermo, CEO of utility company Acea, and a third slate has been submitted by fund manager association Assogestioni.

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Sales of fully electric cars in the European Union surpassed petrol vehicle sales for the first time in December, according to data from industry body ACEA. Battery-electric vehicle registrations also exceeded petrol sales across the wider European market, including Britain and Norway, as overall car sales posted a sixth consecutive month of year-on-year growth. Electrified vehicles—including battery-electric, plug-in hybrid and hybrid models—accounted for 67% of all EU registrations during the month.

The shift comes amid intensifying competition from Chinese automakers such as BYD, Geely and Changan, which are rapidly expanding their presence in Europe, challenging domestic manufacturers like Volkswagen and BMW. At the same time, EU policymakers have proposed easing emissions rules, including plans announced in December to drop an effective 2035 ban on combustion-engine cars, responding to pressure from carmakers facing profitability challenges and global trade headwinds.

Despite regulatory uncertainty, analysts and industry leaders expect electric vehicles to continue gaining market share. European brands are rolling out more affordable EV models, supported by fresh national incentive schemes. While analysts note that some decline in petrol sales reflects reclassification into mild hybrids, experts say the milestone signals a turning point, even if it may still take several years for pure electric cars to fully overtake combustion-engine models across Europe.

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