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BRIEF-Italian govt to take 70 pct of Monte dei Paschi
July 4, 2017 / 3:44 PM / 3 months ago

BRIEF-Italian govt to take 70 pct of Monte dei Paschi

July 4 (Reuters) - Banca Monte dei Paschi Di Siena Spa

* Italian treasury minister Pier Carlo Padoan says state will have 70 pct of Monte dei Paschi as a result of bailout

* Monte dei Paschi CEO Marco Morelli says plan envisages no forced layoffs

* Italy’s Padoan says state will directly underwrite 3.9 billion euros of total 5.4 billion euros of state money injected into Monte dei Paschi

* Padoan says Monte dei Paschi bad debts will be eliminated by the first half of 2018

* Monte dei Paschi chairman says bailout plan runs to 2021 with the state exiting by that date

* Italy treasury official says overall amount needed to fix Monte dei Paschi totals 8.1 bln euros vs previous estimate of 8.8 bln euros Further company coverage:

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