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Monte dei Paschi managers met banks, Italy economy minister: Treasury source
December 9, 2016 / 1:34 PM / a year ago

Monte dei Paschi managers met banks, Italy economy minister: Treasury source

ROME (Reuters) - Banca Monte dei Paschi di Siena’s (BMPS.MI) top management met Italy’s economy minister and representatives from investment banks JPMorgan and Mediobanca in Rome on Friday, a Treasury source said.

    The struggling bank asked the European Central Bank for an extension to a capital-raising plan, but a source told Reuters on Friday that the central bank rejected the request.

    That increases pressure on the government to intervene to save Monte Paschi, Italy’s third-biggest bank, from being wound down. JPMorgan and Mediobanca must decide whether to back the cash call.

    Reporting by Giuseppe Fonte, writing by Isla Binnie, editing by Steve Scherer

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