September 23, 2019 / 4:26 PM / 2 months ago

Italy looking at M&A options for bank Monte dei Paschi - official

ROME, Sept 23 (Reuters) - The Italian government is considering a series of potential merger and acquisition options for Banca Monte dei Paschi di Siena, a top official said on Monday.

The Treasury, which owns 68% of Monte dei Paschi, has to present the European Union with a plan by the end of this year on how it intends to exit the lender’s capital.

“For sure. We are forced to do it, we are doing it,” Treasury Director General Alessandro Rivera said in reply to a question on whether the economy ministry was studying consolidation scenarios for the bank.

Reporting by Giuseppe Fonte, writing by Stephen Jewkes

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