Reuters logo
Monte dei Paschi's board approves private backed bailout-board member
July 29, 2016 / 6:26 PM / a year ago

Monte dei Paschi's board approves private backed bailout-board member

SIENA, Italy (Reuters) - The board of Monte dei Paschi di Siena (BMPS.MI) approved on Friday a privately-backed bailout plan that includes a capital increase and the sale of a big chunk of its bad loans, board member Antonino Turicchi said.

A logo of Monte dei Paschi di Siena bank is seen on the ground in downtown Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo

Turicchi said the bank, alongside advisers JP Morgan and Mediobanca, had managed to put together a banking consortium to guarantee the cash call.

Reporting by Stefano Bernabei

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below