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MILAN (Reuters) - Deutsche Bank (DBKGn.DE) said on Wednesday damage claims filed by Italy's Monte dei Paschi di Siena (BMPS.MI) over a derivative trade were "entirely without merit", vowing to defend itself vigorously.
A judicial source told Reuters last week the world's oldest bank was seeking at least 500 million euros in damages from Deutsche Bank and two former Monte dei Paschi executives over a loss-making 2008 trade known as "Santorini".
"We will defend ourselves vigorously against any claims for damages made by the client before the Tribunal of Florence," Deutsche Bank said in a statement.
Reporting By Silvia Aloisi; Editing by Lisa Jucca