Monte Paschi delays approval of new restructuring plan
MILAN, Sept 24
MILAN, Sept 24 (Reuters) - Italy's Monte dei Paschi di Siena said on Tuesday it had decided to postpone the approval of a new restructuring plan that is needed for the European Commission to approve its state bailout.
The plan was due to be released Wednesday morning.
The bank, which did not set a new date for the approval, said in a statement the delay was due to the "need for the European Commission to complete formal procedural aspects."
(Reporting by Silvia Aloisi, editing by Jennifer Clark)
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