October 9, 2016 / 3:12 PM / a year ago

Italy's Atlante fund says not planning to invest in Monte dei Paschi

MILAN, Oct 9 (Reuters) - Italian bank rescue fund Atlante said on Sunday it had no plan to invest in Monte dei Paschi di Siena as Italy’s third-biggest bank tries to raise 5 billion euros ($5.60 billion) in capital to avert the risk of being wound down.

“The Atlante fund is not assessing a possible investment in the bank’s capital,” the fund’s manager Quaestio Capital Management said in a statement.

Quaestio also denied a press report that its Chairman Alessandro Penati could become the next Monte dei Paschi’s chairman, saying “Penati had not been contacted by anyone and was anyway unavailable.”

$1 = 0.8928 euros Reporting by Valentina Za, editing by David Evans

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