MILAN Nov 29 Monte dei Paschi is
racing against time to secure a commitment with an anchor
investor by the weekend before tapping the market for
much-needed funds, CFO Francesco Mele told an investors'
conference call on Tuesday.
Shares in the troubled bank have been recently hammered by
worries over its ability to execute a vital 5 billion euros
($5.32 billion) capital raising with some fund managers saying
sentiment could brighten if the bank finds an anchor investor.
"If we get to Monday with a good anchor commitment we should
be able to complete successfully the transaction," Mele told
He added that the approval received by the European Central
Bank is subject to the lender launching its share sale by the
end of the year.
Investors fear that a failure of the capital raising could
heighten worries over the whole Italian banking system, adding
to pessimism over political stability ahead of Sunday's
referendum on constitutional reform.
($1 = 0.9396 euros)
(Reporting by Stephen Jewkes; editing by Francesca Landini)