MILAN, April 14 Banca Monte dei Paschi di Siena
may need to raise up to 5 billion euros ($6.9 billion)
through an upcoming capital hike, rather than the 3 billion
euros originally planned, Italian news agency ANSA reported on
The bank is due to launch a rights issue at the end of May
to help pay back a 4.1 billion euro state bailout received after
it was hit hard by the euro zone debt crisis and a scandal over
loss-making derivatives deals.
An increase in the amount to be raised would need approval
first from Monte Paschi's consortium of underwriting banks, then
the board of directors and finally an extraordinary meeting of
shareholders, which would probably mean the transaction would be
pushed forward, perhaps to June, ANSA said.
The capital increase was part of a restructuring demanded by
European Union regulators in order to approve the state aid.
It was not possible to reach Monte dei Paschi for comment.
UBS, the leading bank on the consortium guaranteeing the capital
increase, declined to comment.
($1 = 0.7238 Euros)
(Reporting by Isla Binnie)