Market talk that Intesa may rescue Monte Paschi groundless-sources
MILAN, Sept 26
MILAN, Sept 26 (Reuters) - Market rumours that Italy's biggest retail bank Intesa Sanpaolo could rescue struggling domestic rival Monte dei Paschi di Siena are "groundless", two sources close to Intesa said on Thursday.
"The hypothesis of helping MPS is totally groundless," said a source close to Intesa Sanpaolo.
A second source close to Intesa's shareholders said "MPS must resolve its problems by itself."
Intesa's shares fell 4 percent to 1.60 euros, with traders citing market rumours that a clash between CEO Enrico Cucchiani and supervisory board chairman Giovanni Bazoli was linked to the possibility of Intesa rescuing Monte dei Paschi - an idea seen as opposed by Cucchiani.
Intesa Sanpaolo declined to comment.
(Reporting by Paola Arosio)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Analysis: Boeing bidders dangle goodies to win 777X jetliner