December 27, 2013 / 9:02 AM / 4 years ago

Monte Paschi shares dip as EGM delayed to Saturday

MILAN, Dec 27 (Reuters) - Shares in Banca Monte dei Paschi di Siena turned negative after the lender was forced to push back to Saturday from Friday a shareholder meeting due to decide the timing of a vital 3-billion-euro capital increase.

Chairman Alessandro Profumo said 49.3 percent of shareholders turned up to attend the meeting on Friday, below the 50 percent plus one quorum needed for it to go ahead.

Shares in Monte dei Paschi dropped more than 2 percent after the meeting was delayed. By 0853 GMT they were down 0.23 percent at 0.1764 euros a share. (Reporting By Lisa Jucca)

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