Monte Paschi main shareholder sells 0.17 pct stake in June

MILAN, July 3 Wed Jul 3, 2013 12:17pm EDT

Related Topics

MILAN, July 3 (Reuters) - Fondazione Monte dei Paschi di Siena, main shareholder of the troubled Tuscan lender Banca Monte dei Paschi, sold around 0.17 percent of the bank in June to ensure Fondazione maintains an adequate level of liquidity, it said on Wednesday.

The banking foundation now holds around 33.5 percent of the Italian bank where huge derivatives losses were discovered earlier this year, forcing it to take 4.1 billion euro ($5.32 billion) in state aid.

The foundation sold the stake at an average price of 0.26 euros ($0.34) per share.

($1 = 0.7709 euros) (Reporting by Isla Binnie and Stephen Jewkes; editing by Francesca Landini)

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