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MILAN (Reuters) – Italy aims to sell up to around 15% of Monte dei Paschi di Siena in an upcoming share placement, with the government’s stake in the bailed-out bank falling to as low as 12%, two sources close to the matter told Reuters on Friday.
Italy currently holds 26.7% of Monte dei Paschi following the 2017 bailout of the world’s oldest bank still in business.
On Thursday, Economy Minister Giancarlo Giorgetti said Italy aimed to carry out another market placement before the end of the year.
The two sources said the Treasury is looking to place with investors a stake of around 10-15% in the bank.
(Reporting by Valentina Za in Milan and Giuseppe Fonte in Rome; editing by Giulia Segreti)