Il Palazzo catches Excel's fist and asks her what she's doing. She replies that he's an imposer because the REAL IL Palazzo would never have called the world "wonderful" (which he said in the last chapter). He tosses her across the room.
He tries to convince her that he's the real thing by sparkling at her and telling her she did a good job, but when she still doesn't believe him he admits it.
VERY ROUGH TRANSLATION:
As I've been telling you, this is without a doubt his body.
LIES!
It's not a lie. It seemed like he didn't need this body anymore. When I earnestly requested, he handed it over. It seems like I can do ~anything I want~ with it.
LIES! Let Lord Il Palazzo free! We're going to conquer the world!
How boring. Why do I have to do that? All right~ You guys have had a hard enough time. Let's just cancel the city conquest. I'll serve him in your stead.
Excel: D8
By the way, Il Palazzo doesn't use his brackety speech bubbles the entire time; they're all normal ones.
Later on notIwata shows up and is like "Hey you give that guy his body back" and notIl Palazzo is like "lol no" and notIwata is like "oh okay."
There's another big revelation at the end but my grammar is too weak to tell what it is. I. Give me a little bit with a dictionary to give this chapter a more thorough look. I'll just throw this out there: ROPPONMATSU THE THIRD.