MILAN/ROME (Reuters) – Italy’s Banca Monte dei Paschi di Siena (BMPS.MI: Quote, Profile, Research, Stock Buzz) is considering increasing the size of its planned share sale to help it pass a euro-zone wide bank health check and repay state aid this year.
Late on Monday, Italian news agency ANSA said Italy’s third-largest lender was looking to tap investors for up to 5 billion euros ($6.9 billion), more than the 3 billion planned.
ROME (Reuters) – Italian Prime Minister Matteo Renzi said on Tuesday he had found ways to fund a pledged 7 billion euro tax cut this year, moving to reassure sceptics and European officials that Italy does not plan to upend its public finances to fuel economic growth.
Speaking to reporters before a cabinet meeting to lay out his new government’s economic goals, Renzi shrugged off scepticism from opponents that a set of tax cuts were an electioneering gambit ahead of next month’s European elections.
ROME/MILAN, March 19 (Reuters) – In just six months,
Antonella Mansi has cut the umbilical cord that for 500 years
united Monte dei Paschi di Siena to its medieval home
Mansi, a 39-year-old chemicals company executive, took the
helm of the Monte dei Paschi foundation – a powerful and
politically-connected charity that was long the bank’s
controlling shareholder – last year.
MILAN/ROME, March 19 (Reuters) – Banca Monte dei Paschi di
Siena is becoming a potential takeover target after
its biggest shareholder halved its controlling stake in Italy’s
The cash-strapped Monte dei Paschi foundation has sold 15
percent of the bank, likely to more than one buyer, and will cut
its holding further in a 3 billion euro ($4.2 billion) cash call
needed to avert nationalisation.
MILAN, March 4 (Reuters) – Euro zone banks could be forced
to disclose any major balance sheet gaps discovered in a health
check on the industry before the results are made public in
October, the head of the European banking watchdog said on
Andrea Enria, chairman of the European Banking Authority
(EBA) which will help the European Central Bank scrutinise 128
banks, dismissed concerns the findings of the review might be
leaked ahead of their official release.
ROME (Reuters) – Italian centre-left leader Matteo Renzi is close to naming the members of his government, with OECD Chief Economist Pier Carlo Padoan set to take the key economy ministry portfolio, sources close to the negotiations said on Friday.
Renzi is expected to meet President Giorgio Napolitano at 4 p.m. (1500 GMT) on Friday to confirm his cabinet list, allowing the government to be sworn in by the weekend, ahead of a confidence vote in parliament expected on Monday.
ROME (Reuters) – Italian center-left leader Matteo Renzi is close to naming the members of his government, with OECD Chief Economist Pier Carlo Padoan likely to be named to the economy ministry portfolio, three sources close to the negotiations said on Friday.
Renzi is expected to meet President Giorgio Napolitano at 4 p.m. (1000 ET) on Friday to confirm his cabinet list, allowing the government to be sworn in by the weekend, ahead of a confidence vote in parliament expected on Monday.
ROME/MILAN, Feb 13 (Reuters) – Italy’s top two banks,
UniCredit and Intesa Sanpaolo, are in talks
to set up a vehicle to pool restructured loans with a nominal
value of 1 billion euros ($1.4 billion), two sources close to
the matter said on Thursday.
UniCredit CEO Federico Ghizzoni confirmed this week
negotiations were underway between two banks and U.S. fund KKR
as Italian lenders strive to clean up their balance
sheets while European regulators conduct a sector-wide
ROME (Reuters) – Regulators will exempt banks that had mandatory European Commission-approved restructuring plans in place last year – such as Monte dei Paschi di Siena – from the harshest of stress tests in 2014, Italian government officials say.
The European Banking Authority (EBA) is due to conduct stress tests of euro zone lenders as part of a sector-wide check up by the European Central Bank before taking it takes on supervision from national regulators in November.
ROME, Jan 8 (Reuters) – Italy’s stock market regulator has
asked Monte dei Paschi di Siena whether it intends to
challenge in court a decision by its top shareholder to delay a
rights issue, a source familiar with the matter said on
The world’s oldest bank, reeling from derivatives losses and
weakened by years of economic crisis, needs fresh capital to pay
back part of the 4.1 billion euros ($5.58 billion) in aid it
received last year from the government.