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Economy ministry to cede a further 12.5% of MPS - Business

2024-03-26T17:56:44.020Z

Highlights: Economy ministry to cede a further 12.5% of MPS. In 2017 the Italian State bailed out the Tuscan lender by taking around a 70% stake. The move comes after the ministry launched a similar procedure in November as part of plans to privatize the world's oldest continually trading bank. Photo: Economy Minister Giancarlo Giorgetti ALL RIGHTS RESERVED © Copyright ANSA.com, 2018. All rights reserved.

The economy ministry said Tuesday it has started a fast track procedure for selling "approximately 12.5% of the share capital" of Monte dei Paschi di Siena (MPS), the equivalent of 157,461,214 shares. (HANDLE)

The economy ministry said Tuesday it has started a fast track procedure for selling "approximately12.5% of the share capital" of Monte dei Paschi di Siena (MPS), the equivalent of 157,461,214 shares.

The move comes after the ministry launched a similar procedure to cede 20% of the share capital in November as part of plans to privatize the world's oldest continually trading bank.

In 2017 the Italian State bailed out the Tuscan lender by taking around a 70% stake.

Photo: Economy Minister Giancarlo Giorgetti

ALL RIGHTS RESERVED © Copyright ANSA

Source: ansa

All news articles on 2024-03-26

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