Monte Paschi foundation discusses stake sale with govt-sources
ROME Oct 16 (Reuters) - The head of the Banca Monte Paschi di Siena's shareholder foundation met officials from the Italian Treasury on Wednesday to discuss a sale of a stake in the troubled Italian bank, sources close to the situation said.
The foundation, which owns 33.5 percent in Monte Paschi is preparing to shed part of its stake to raise cash to repay a 350 million euro ($472.62 million) bank debt.
Two sources close to the situation said foundation head Antonella Mansi had gone to the Economy Ministry on Wednesday morning to inform the Treasury of the sale plan. ($1 = 0.7406 euros) (Reporting by Stefano Bernabei and Silvia Ognibene)
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