Monte Paschi board seen meeting Monday on plan to shed bad loans - source

ROME (Reuters) - The board of Monte dei Paschi di Siena is expected to meet on Monday to approve a plan to reduce its burden of bad loans, a source familiar with the matter said, without giving further details.Daily Il Messaggero reported that under the plan the Tuscan lender would offload 8.9-9.0 billion euros (8.2 billion pounds) in gross impaired loans at net value of 4.2-4.3 billion euros.The paper said the bank would de-merge the impaired loans together with 1-1.1 billion euros in equity..