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Italy Weighs Sale of Monte Paschi Stake to Cut Debt, Bloomberg Reports

-- Italy's government is considering selling up to 10% of its stake in the lender Banca Monte dei Paschi di Siena, Bloomberg reports, citing unnamed sources.

-- The intended sale, which could happen as early as April, aims to cut debt and facilitate consolidation in the banking sector, Bloomberg says. The Italian state, which owns 39% of the bank, said it would fully divest its holdings by the end of this year through an accelerated book building as in a previous sale, according to Bloomberg.

-- The Italian Ministry of Economics and Finance and Monte dei Paschi didn't immediately respond when requested by Dow Jones Newswires for comment.


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(END) Dow Jones Newswires

February 21, 2024 06:16 ET (11:16 GMT)

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