Monte Paschi shares rise after report of private equity interest
MILAN, March 14
MILAN, March 14 (Reuters) - Shares in Banca Monte dei Paschi di Siena rose 2.4 pct in early trading on Friday after a newspaper reported that U.S. private equity firm JC Flowers was considering buying a stake in the bank from its main shareholder foundation.
According to Il Messaggero newspaper, the U.S. firm has been studying the possible move for three months and could lead a consortium of institutional investors.
A Milan-based trader said the share move was due to the report.
The Monte Paschi Foundation and JC Flowers were not immediately available to comment. (Reporting by Stephen Jewkes and Isla Binnie)