December 29, 2016 / 7:52 AM / a year ago

Amount of Monte dei Paschi's bailout depends on industrial plan, Econ min to paper

MILAN, Dec 29 (Reuters) - Italy’s Economy Minister said the actual amount for the government’s recapitalisation of Monte dei Paschi will depend on the lender’s new industrial plan, in an interview to Italy’s daily Il Sole 24 Ore on Thursday.

A capital increase could be launched in two to three months, with full information form the ECB and the EU, Pier Carlo Padoan said.

He added the conditions set out for compensating the lender’s retail investors were the result of a shared effort with the competition authority of the European Commission. (Reporting by Giulia Segreti, editing by Isla Binnie)

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