December 14, 2016 / 3:42 PM / 8 months ago

Monte dei Paschi board to reconvene on Thursday: source

People use a cash machine of Monte Dei Paschi bank in downtown in Florence, Italy March 1, 2016.Tony Gentile/File photo

MILAN (Reuters) - Monte dei Paschi's board was meeting on Wednesday and will reconvene on Thursday to decide whether the bank can launch a last-ditch attempt to raise 5 billion euros on the market, a source close to the matter said.

The lender will communicate its decisions on Thursday, the source added.

The bank confirmed on Tuesday that the European Central Bank had rejected its request for more time to carry out the privately-funded capital raise, putting pressure on the Italian government to inject money in the lender.

Reporting by Paola Arosio; writing by Francesca Landini; editing by Emilio Parodi

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