Monte Paschi top investor won't decide on stake Monday-sources

ROME Mon Dec 23, 2013 3:51am EST

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ROME Dec 23 (Reuters) - Monte dei Paschi's top investor is not expected to take a decision on the sale of part of its stake in the bank at a meeting later on Monday, sources close to the top investor told Reuters.

The charitable banking foundation, which owns 33.5 percent in the trouble lender, must sell down its stake to repay debt.

Shares in Banca Monte dei Paschi were up more than 3 percent in early trade on speculation the bank's top shareholder could be close to selling a 20 percent stake to three banking foundations and a group of investment funds.. (Reporting by Stefano Bernabei; writing by Francesca Landini; Editing by Lisa Jucca)

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