March 18, 2014 / 8:07 PM / 3 years ago

Monte Paschi top investor says has sold 12 pct stake

MILAN, March 18 (Reuters) - The top investor in Banca Monte dei Paschi di Siena sold a 12 percent stake in the bank on Tuesday, it said in a statement.

The Monte dei Paschi foundation said it now had a stake of 15.07 percent in the bank, following further share sales on the market on Tuesday and in previous days.

It said proceeds of the sales would be used to completely clear debts with creditors. (Reporting by Silvia Aloisi)

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