Published 1 month ago

Italy further cuts Monte dei Paschi stake, raises €650m

Summary by Ground News

Italy sells a further 12.5% stake in bailed-out lender Monte dei Paschi di Siena. The Treasury placed the shares at a 2.49% discount to yesterday's closing price. The transaction will reduce Italy's stake to 26.7% from 39.2%. Rome plans to raise roughly €20 billion from asset sales between 2024 and 2026.

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Italy further cuts Monte dei Paschi stake, raises €650m

Italy has sold a further 12.5% stake in bailed-out lender Monte dei Paschi di Siena, pocketing €650m and advancing plans to re-privatise the world's oldest bank after a failed first attempt in 2021.

1 month ago·Ireland

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