Lazard to advise administrators on sale of Italy's Pop Spoleto
MILAN, Sept 18
MILAN, Sept 18 (Reuters) - Special administrators appointed by the Bank of Italy to run Banca Popolare di Spoleto, a small cooperative lender, have chosen investment bank Lazard to advise on investors interested in buying the Italian bank.
Potential buyers will have time until the end of October to look through the lender's balance sheet and will then have to file a bid for the bank or for a stake in it, the administrators said in a statement on Wednesday.
It will be up to the Bank of Italy to examine the final offers and decide, the statement said.
Monte dei Paschi di Siena has a 29.5 percent stake in the troubled lender. (Reporting by Francesca Landini; editing by David Evans)
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