Monte Paschi top investor sold 2 pct of bank on the market

MILAN Fri Feb 14, 2014 12:09pm EST

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MILAN Feb 14 (Reuters) - The top investor in Banca Monte dei Paschi di Siena has sold 236 million shares on the market, equivalent to 2 percent of Italy's No.3 bank.

In regulatory filings, the Fondazione Monte dei Paschi di Siena said it had netted 43.7 million euros ($59.81 million) from the sale, which leaves it with 31.5 percent in the bank.

The Fondazione is looking to sell all or part of its large stake ahead of 3-billion-euro capital increase that Monte dei Paschi is due to carry out from May onwards.

($1 = 0.7307 euros) (Reporting by Lisa Jucca; Editing by Valentina Za)

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