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Monte Paschi Working on 'substantial' Capital Increase: Source

4 years ago1 views

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Wochit

Banca Monte dei Paschi di Siena, the oldest surviving bank in the world, is working on a rights issue to fill at least half of a $2.6 billion capital gap uncovered by a European review of banks, a source with direct knowledge of the matter said.
Italy's third-largest bank has hired UBS and Citigroup to assess strategic options after it failed European Central Bank check tests designed to test the solidity of the financial system.

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