December 11, 2016 / 4:05 PM / 7 months ago

Italy's Monte dei Paschi can still pull off private deal, Qatar interested-source

1 Min Read

MILAN, Dec 11 (Reuters) - Ailing Italian bank Monte dei Paschi di Siena can still pull off a private recapitalisation plan by year-end, with Qatar's sovereign wealth fund willing to invest in the lender, a source close to the board's bank said on Sunday.

The source was speaking as the bank's board met to hammer out a last-ditch private sector 5 billion euro ($5.28 billion)capital raising plan after the European Central Bank refused to give it more time to find the money.

Bankers say Qatar Investment Authority could invest 1 billion euros in the lender.

The source said the bank was in talks with market watchdog Consob to reopen a debt swap offer to retail investors holding 2.1 billion euros of its subordinated bonds. ($1 = 0.9471 euros) (Reporting by Elisa Anzolin, editing by Silvia Aloisi)

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