1 Min Read
MILAN, May 23 (Reuters) - Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy's fourth biggest bank, a senior Italian treasury official said. Striking an accord "is a matter of days," the official, Fabrizio Pagani, told reporters on the sidelines of a conference.
Pagani said that a deal to selle the bank's non-performing loans repackaged as securities -- part of a restructuring plan for the lender that must be approved by European regulators to unlock state aid -- was also being finalised.
Reporting by Gianluca Semeraro, writing by Silvia Aloisi, editing by Valentina Za