Top Monte Paschi shareholder says to vote for capital hike delay
ROME (Reuters) - The top investor in troubled Italian bank Monte dei Paschi di Siena said on Friday it would only vote in favour of the lender's planned January capital increase if it is postponed to the second quarter of next year.
The board of Monte dei Paschi foundation, which holds 33.5 percent of the bank, said it backed the 3 billion euro ($4.11 billion)rights issue proposal, which will be voted on at a shareholders' meeting at the end of December, but it needed to be delayed.
"Should the share capital increase implementation be maintained for the first quarter of 2014, the vote of Mps Foundation will be contrary to that proposal," the foundation said in a statement.
(Reporting By Gavin Jones)
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