SIENA, Italy Jan 25 Italy's Banca Monte dei
Paschi di Siena said on Friday it had approved the
sale of a significant number of non-strategic stakes to boost
Chief Executive Fabrizio Viola told a shareholder meeting
proceeds from these sales would also help reimburse a state
bailout. He did not say which holdings he was referring to.
As expected the special shareholder meeting in Siena
approved two capital increases of up to 6.5 billion euros to be
carried out if needed in the next five years, a condition of the
3.9 billion euro state bailout the bank requested last year.
The capital increases would allow the bank to issue shares
to the Treasury if it cannot pay the interests on the bonds it
is selling to the government as part of the scheme and if it
cannot reimburse the loans.