December 11, 2016 / 9:01 PM / 8 months ago

Italy's Monte dei Paschi to press ahead with private rescue plan-source

MILAN, Dec 11 (Reuters) - Ailing Italian bank Monte dei Paschi di Siena will press ahead with a last-ditch 5-billion euro privately-funded rescue plan after the European Central Bank refused to give it more time to raise the money, a source close to the matter said.

The source said the 11th-hour plan involved reopening a debt to equity swap offer to retail investors and a private placement of shares in the lender on the market.

Reporting by Silvia Aloisi

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