Italian consumer watchdog appeals to block Monte Paschi bailout

ROME Wed Feb 27, 2013 5:21am EST

The entrance of Monte Dei Paschi bank headquarters is pictured in Siena January 24, 2013. REUTERS/Stefano Rellandini

The entrance of Monte Dei Paschi bank headquarters is pictured in Siena January 24, 2013.

Credit: Reuters/Stefano Rellandini

ROME (Reuters) - Italian consumer watchdog group Codacons said on Wednesday it had appealed a court ruling in which the government was given the green light to lend 3.9 billion euros ($5.10 billion) to troubled lender Banca Monte dei Paschi di Siena (BMPS.MI).

Codacons is seeking to block the bailout, saying it wants Monte dei Paschi nationalised.

A hearing will be held on March 8 by the administrative appeals court in Rome, the consumer watchdog said in a statement.

($1 = 0.7649 euros)

(Reporting by Giuseppe Fonte. Writing by Steve Scherer.)

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