April 2, 2013 / 4:47 PM / in 5 years

Italian investors make new offer for Pop Spoleto

MILAN, April 2 (Reuters) - A group of Italian investors is ready to stump up over 100 million euros to take control of small cooperative lender Banca Popolare di Spoleto, which was put under special administration this year.

The Clitumnus group of investors said on Tuesday it would underwrite a capital increase of up to 102 million euros.

Shares in Popolare Spoleto, in which Banca Monte dei Paschi di Siena has a 29.5 percent stake, closed up 3.2 percent at 1.85 euros after the offer by Clitumnus.

Clitumnus offered in January to buy a 51 percent stake for 2.10 euros per share. That offer was rejected as inadequate by the bank’s main shareholder, cooperative group Spoleto Crediti e Servizi.

Less than two weeks later Italian authorities appointed special administrators to run the bank, which has a market capitalisation of 53 million euros ($68 million), at the request of the Bank of Italy.

Clitumnus said it was open to other investors taking part in the capital raising. ($1 = 0.7789 euros) (Reporting By Silvia Aloisi; Editing by David Cowell)

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