Monte Paschi CEO hopes foundation will remain shareholder
MILAN Nov 28 (Reuters) - Troubled Monte dei Paschi di Siena hopes its biggest shareholder, a charitable foundation with strong local ties, will be able to repay its debt and remain a stable investor in Italy's third-largest bank after a 3-billion euro capital increase.
"My hope is that the foundation will solve its problems with debt and remain a stable shareholder in the bank alongside the other strategic investors thta will buy into the cash call," Chief Executive Fabrizio Viola told a conference call on Thursday.
Monte dei Paschi is due to launch the cash call in January to pay back the bulk of a 4.1-billion euro state bailout.
But its bid to tap the market for fresh funds is complicated by the fact that the Monte dei Paschi di Siena foundation, which owns 33.5 percent, is also trying to sell down its stake to pay back 350 million euros of debt. ($1 = 0.7353 euros) (Reporting by Silvia Aloisi, Editing by Lisa Jucca)
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