Monte Paschi shares fall on capital increase uncertainty

MILAN Fri Dec 13, 2013 3:44am EST

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MILAN Dec 13 (Reuters) - Shares in Italian lender Monte dei Paschi di Siena fell in early trade on Friday, hit by a row between the bank's management and its top investor over the timing of a 3 billion euro capital increase.

The stock was down 3 percent at 0.166 euros by 0840 GMT.

The bank's board said on Thursday it disagreed with a request by its top investor to delay the cash call, setting the scene for a showdown at a shareholder meeting this month.

"There is total uncertainty," said a trader.

(Reporting by Silvia Aloisi, editing by Stephen Jewkes)

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