January 15, 2014 / 10:47 AM / 4 years ago

Cariplo foundation says not working on Monte Paschi deal

MILAN, Jan 15 (Reuters) - The powerful head of Italy’s Cariplo banking foundation denied on Wednesday that it was working on a possible deal to buy a stake in Monte dei Paschi from the Tuscan lender’s biggest shareholder.

The Monte dei Paschi foundation is seeking a buyer for all or part of its 33.5 percent stake and several bankers have said Cariplo, along with other banking foundations, was involved in the negotiations.

“I am not on the Monte dei Paschi case. Our name is being dragged into everything... because we have a big asset base and therefore everybody thinks we have the money, but I am not in this game,” Cariplo’s head Giuseppe Guzzetti told reporters.

Reporting by Gianluca Semeraro

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