Monte Paschi controlling investor sells 0.50 percent of bank

MILAN Wed May 15, 2013 9:44am EDT

MILAN (Reuters) - The controlling shareholder of Banca Monte dei Paschi di Siena (BMPS.MI) has sold a 0.50 percent stake in the Tuscan lender at an average price of 0.2142 euros per share, the Monte dei Paschi foundation said on Wednesday.

In a statement, the foundation said the sale was aimed at "creating an adequate level of liquidity" to safeguard its financial balance over the medium-term.

After the sale, the foundation controls around 33.5 percent of Monte Paschi.

(Reporting By Francesca Landini; editing by Danilo Masoni)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.