• Age ≥ 70 years old

• ECOG performance status (PS):

‣ ≤1 if age \> 75 years old

• Histologically or cytologically confirmed adenocarcinoma of the rectum

• Distal border of the tumour below the peritoneal reflection and within 15 cm of the anal verge

• Operable stage III or high-risk stage II rectal cancer (high-risk tumours defined as those having ≥1 of the following features: T4, mesorectal fascia (MRF) involvement/threatening \[i.e.,tumour within 1 mm of the MRF\], extramural venous invasion). Patient with involvement of lateral pelvic lymph nodes are also eligible.

• Adequate bone marrow function as defined below:

‣ Absolute neutrophil count ≥1,500/µL

⁃ Haemoglobin ≥9 g/dL

⁃ Platelets ≥100,000/µL

• Adequate liver function as defined below:

‣ Serum total bilirubin ≤1.5 x ULN. In case of known Gilbert's syndrome \<3xUNL is allowed

⁃ AST (SGOT) and ALT (SGPT) ≤2.5 x ULN

⁃ Alkaline phosphatase ≤2.5 x ULN

• Adequate renal function as defined by estimated glomerular filtration rate (GFR) ≥30 mL/min/1.73m² (according to the CKD-EPI 2021 equation).

• Absence of clinical conditions that in the opinion of the investigator, would contraindicate neoadjuvant therapy and/or surgery.

⁃ Signed Informed Consent form (ICF) obtained prior to any study related procedure.

⁃ Male subjects with partners of childbearing potential must agree to use condom during the course of this study and for at least 6 months after the last administration of study drugs.