Reuters logo
8 months ago
Italy regulator only got generic info on Monte dei Paschi's board meeting: source
December 12, 2016 / 6:30 PM / 8 months ago

Italy regulator only got generic info on Monte dei Paschi's board meeting: source

A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014.Giampiero Sposito/File Photo

ROME (Reuters) - Italy's market regulator Consob has only received "preliminary and generic" information regarding Monte dei Paschi's board meeting on Sunday which sought to breathe new life into a privately-funded rescue plan, a source close to the watchdog said on Monday.

Italy's third biggest lender said on Sunday it would press ahead with a last-ditch plan to raise 5 billion euros ($5.32 billion) on the market by year-end after the European Central Bank refused to give it more time to recapitalise.

The eleventh-hour private solution being drawn up by the bank, advised by JPMorgan and Mediobanca, involves reopening a debt-to-equity swap offer. This needs Consob's approval.

Reporting by Stefano Bernabei, writing by Agnieszka Flak; editing by Paola Arosio

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below