MILAN, March 15 The controlling
shareholder in Italy's Banca Monte dei Paschi di Siena SpA
has clinched a deal with all but one of its 12
creditors to extend a deadline to repay debts to the end of
April, a source close to the situation said on Thursday.
An agreement with the last creditor is expected to be
finalised overnight, the source said. The foundation's 12
creditors include JP Morgan Chase & Co, Credit Suisse
Group AG and Mediobanca.
"A deal has been reached with the pool led by JPMorgan and
with Mediobanca. It's almost done with Credit Suisse as well,"
the source said.
The Monte dei Paschi banking foundation said in a statement
on Wednesday it was in advanced talks with its creditors to
extend a March 15 deadline for a debt-cutting plan.
Sources close to the matter told Reuters on Tuesday the
deadline was likely to be extended until April 30.
The Monte dei Paschi foundation, which has a 49 percent
stake in the eponymous lender, is selling a 15.5 percent holding
in the bank to partially reimburse 1.1. billion euros of debts.
In the past few days, the foundation has sold 2.52 percent
of Monte Paschi, the world's oldest bank, through off-the-market
block trades. Transaction records showed on Thursday it raised
113.4 million euros.