Monte Paschi investor denies talks with other foundations to swap, sell shares

MILAN Tue Dec 17, 2013 1:21pm EST

MILAN Dec 17 (Reuters) - The biggest investor in Italy's Monte dei Paschi di Siena (MPS) denied on Tuesday a press report that it was in talks with other banking foundations to swap or sell its shares in the troubled lender.

Financial daily Il Sole 24 Ore wrote on Tuesday that the Monte dei Paschi foundation, which is trying to sell down its stake in the bank to pay back creditors, was in contact with other foundations to swap its stake in the bank with their holdings in other lenders.

The foundations mentioned in the report are shareholders of UniCredit and Intesa Sanpaolo.

"At the moment there are no negotiations with banking foundations regarding a sale or a swap of MPS shares," the foundation said in a statement.

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