marco morelli spoke exclusively to bloomberg daybreak europe. the business plan projections was the first step toward moving bank -- when the bundebank, and seek outside investors. this is something we could have started on the on the business of the new business plan. in this is already best interest is already there. we moved to stage two and see where we are heading. guest: that is it for the interest. our investors actively approaching you? marco: at this stage, at that stage, we could not engage. this is what we are going to do. manus: lots of press reports that you are speaking with qatar, abu dhabi. are you approaching sovereign wealth funds? are you moan focused on asia or america? -- more focused on asia or america? marco: we want to speak with a multitude of different investors and then we will will define what is the best route we want to pursue and see what is the most appropriate potential. do you have a number in your head? are you opened all things? marco: we are open to all things. this is going to be a mixture of interest from c

coming up, marco morelli will join us at 2:00 a.m. in new york tomorrow. 7:00 a.m. in london.rg. ♪ ♪ anna: this is "bloomberg surveillance." for the morning must-read. i picked something from the toronto -- from the "toronto star." it is the other side of this e.u. deal, where they are trying to sign a trade deal with the canadians. this coming from the editors. but the star argues, as have many others, that -- it is interesting. i have read lots of thought pieces on this seeming failure untila, there we have thursday to get this deal done. some would say this bodes ill in the u.k. trying to broke its own trade deals with europe, but others on the brexit side say they will look out the mess that is happening that is happening now, which is the reason the brexit vote materialized. what we talked about yesterday. tom: and i get canada's response and i guess i get the british response. but what is the response of germany or poland or italy to three point 6 million people in the french part of belgium saying "no, no, no"? a sickly texas or the two dako tas to -- basically texas or

facing a shortfall, ceo marco morelli wanted a plan to shore up the bank's balance sheet.tails in their next visit with bloomberg television. shares of monte paschi surging after its plans to cut thousands of jobs and sell bad debt, which would attract investors to turn around. bring us the key takeaways from the business plan. a lot of freshot details. mr. morelli, the ceo, confirmed they are looking at raising 5 billion euros in the cap rating -- in the transaction they want to do at the end of the year. you have confirmation of the disposal are trying to get bad loans off of their books. and you have bits and bobs of cost but in -- cost-cutting. morelli on a conference call with analysts this morning received they have not gotten interest from potential "anchor andstors," large investors institutions. but we still do not know who these people are, how much they are willing to invest. the bank needs to raise 5 billion euros, possibly by the end of the year. >> are investors actively approaching you? investors so far have been proactive in approaching. either at the bank

facing a capital shortfall, the ceo marco morelli wanted a plan , -- outlined a plan to shore up thelance sheet. he added details in their next -- in an exclusive interview with bloomberg television. mark: shares of monte paschi surging after announcing its plans to cut 2600 jobs and sell bad debt in a bid to attract investors, to turn around. bring us the key takeaways from the business plan. >> there were not a lot of fresh details. mr. morelli, the ceo, confirmed they are looking at raising 5 billion euros in the capital raising, in the transaction they want to do at the end of the year. you have confirmation of the disposal trying to get bad loans , off of their books. you have bits and bobs of cost-cutting. morelli on a conference call with analysts this morning repeated that they have not received interest from potential, what they are calling "anchor investors," large investors and institutions. he did not give any names. but we still do not know who these people are, how much they are willing to invest. the bank needs to raise 5 billion euros, possibly by the end of the year.

shares of italy's monte paschi up 13% ahead of a presentation by its ceo marco morelli expected to outlineans to recapitalize the bank on monday. keep an eye on this stock. we've been discussing the growth we're seeing in cloud with microsoft reporting results. s.a.p. raising its 2016 guidance as it makes cloud software a bigger prioritization, shares up 3% on the day. then the auto space, daimler profits helped by a strong demand for luxury sedans in china, but the stock is falling amid concerns about a slowing truck market. same goes for volvo, which is forecasting a decline in truck demand on both sides of the atlantic. more problems for ericsson and competition in asia, the swedish firm has lost a quarter of its market value this month alone, definitely on the move frp. from stocks to bonds, keep a close eye on bonds in portugal today. in less than an hour, dbrs is expected to update investors on portugal's credit rating if portugal is downgraded, it will no longer be eligible for the ecb's qe program, which would have large negative consequences on portugal's financial stability. we'l

anna: still with us, our exclusive interview with marco morelli.e behind your new business plan a little bit and he said it is up to management to deliver. on the backdrop of the attendant -- italian economy, we're looking at record low interest rates for the banking sector is did -- is to deliver. can you be so confident you can deliver 1.1 billion euros in 2019? guest: our business plan is based on three key pillars. one is restoring the commercial position on the banks throughout italian territory. the second one is dealing with in at in a different way, more systematic way, well organized way. in terms of new flows and the stock and then the third pillar and i really want to stress that is to make sure all the people do understand that this is a situation we need to take care of in a appropriate manner. manus: you have 20 billion euros worth of bad debt, part of that will be taken by [indiscernible] the fund. are some of your existing customers talking about taking that portion and split that 28 billion up for me. guest: the structure is such t