January 19, 2008 / 11:02 AM / 11 years ago

Italy's Banca Finnat mulls selling LSE stake

BARI, Italy, Jan 19 (Reuters) - Italian Banca Finnat (BFE.MI) is considering selling 1.2 percent of the London Stock Exchange (LSE.L) it holds following the LSE’s purchase of Borsa Italiana, Milan’s stock exchange, Finnat’s top executive said.

“We are evaluating (such a possibility). It will also depend on what other banking shareholders decide to do,” Finnat’s Director General Arturo Nattino told reporters on Saturday on the sidelines of a financial conference in Bari, southern Italy.

Italy’s Banca Monte Paschi di Siena (BMPS.MI) sold its 2.93 percent stake in LSE for 146 million pounds ($286.7 million) in November.

At current prices, Finnat’s stake in LSE would be worth about 55 million pounds ($108 million).

LSE bought Borsa Italiana in 2007. Finnat had a 6.2 percent stake in Borsa Italiana.

Reporting by Stefano Bernabei; editing by Michael Roddy

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