December 12, 2016 / 6:44 PM / 8 months ago

Italy regulator only got generic info on Monte dei Paschi's board meeting - source

A Monte dei Paschi di Siena advertisement is seen on a screen in a bank window in downtown Milan, Italy, January 14, 2016.Stefano Rellandini/File Photo

ROME (Reuters) - Italy's market regulator Consob has only received "preliminary and generic" information regarding Monte dei Paschi's board meeting on Sunday which sought to breathe new life into a privately-funded rescue plan, a source close to the watchdog said on Monday.

Italy's third biggest lender (BMPS.MI) said on Sunday it would press ahead with a last-ditch plan to raise 5 billion euros (4.2 billion pounds) on the market by year-end after the European Central Bank refused to give it more time to recapitalise.

The eleventh-hour private solution being drawn up by the bank, advised by JPMorgan and Mediobanca, involves reopening a debt-to-equity swap offer. This needs Consob's approval.

Reporting by Stefano Bernabei, writing by Agnieszka Flak; editing by Paola Arosio

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