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MILAN (Reuters) - Shares in Monte dei Paschi (BMPS.MI) shot up more than 9 percent in early trade on Wednesday after sources said Italy is preparing to take a controlling stake in the troubled bank.
The Treasury is considering buying 2 billion euros ($2.1 billion) in Monte dei Paschi's subordinated debt held by retail investors and convert it into shares.
Italy's banking stock index .FTIT8300 rose 1.9 percent.
Reporting by Valentina Za, editing by Agnieszka Flak