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Monte Paschi main investor not selling shares - source
June 6, 2013 / 11:47 AM / 4 years ago

Monte Paschi main investor not selling shares - source

ROME, June 6 (Reuters) - The main shareholder of Italy’s Banca Monte dei Paschi di Siena is not in the process of selling part of its strategic stake in the bank, a source at the investor, a banking foundation, said on Thursday.

A report in Italian daily La Stampa said the foundation was mulling selling on the market up to 10 percent in Monte Paschi to pay down debt.

At 1340 GMT shares in the bank were down 3.77 percent at 0.25 euros.

“We are not right now selling portions of our strategic (33.5 percent) stake,” the source told Reuters.

The source declined to say if the foundation would sell part of its stake in the future.

Reporting by Stefano Bernabei, writing by Stephen Jewkes, editing by Lisa Jucca

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