Banca Monte dei Paschi di Siena has taken steps to resume talks with the Commission as it seeks to shape its future following the collapse of talks on its sale to UniCredit.
The bank announced late last night that it had contacted the Italian Ministry of Economy to resume talks with the Commission’s Directorate-General for Competition.
The Italian government, which rescued MPS in 2017, has until April to privatize it again, based on an agreement with European authorities.
Following the collapse of talks with UniCredit over the acquisition of Monte dei Paschi, the Italian government contacted the Commission to extend the deadline, MPS announced on November 4.
The Italian government has also held talks with the Commission to determine what measures the bank should take regarding its capital.
MPS stressed that it is reviewing its business plan, that it is considering a possible capital increase and that it expects the Commission and the ECB to evaluate the Italian government’s intervention in the company, according to the revised plan.
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Source From: Capital
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