ROME Dec 15 Italy's anti-system 5-Star Movement
opposes paying fees to U.S. investment bank JPMorgan if a
capital hike it is co-arranging for Banca Monte dei Paschi di
Siena fails, one of its deputies said on Thursday.
"We will not pay fees to JPMorgan if the market plan
should fail," 5-Star deputy Alessio Villarosa said during a news
conference at the lower house of parliament.
The country's biggest opposition party has no power to
decide whether the fees are paid. Five-Star has said the state
should step in to rescue Italy's third-biggest lender.
Monte dei Paschi is making a last-ditch bid to
raise 5 billion euros ($5.22 billion) by year-end through a new
debt swap offer and a share issue. If the plan fails, it is
expected to need state support.
($1 = 0.9582 euros)
(Reporting by Gavin Jones, writing by Isla Binnie, editing by