Italian treasury could up Monte Paschi stake to around 7 percent: sources

March 15, 2016 11:34 AM

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Italian treasury could up Monte Paschi stake to around 7 percent: sources

ROME The Italian treasury could raise its stake in troubled Italian bank Monte dei Paschi di Siena (BMPS.MI) to around 7 percent, becoming its biggest shareholder, two sources close to the matter said on Tuesday.

The treasury currently owns around 4 percent of the Tuscan bank because it received that stake as payment for coupons on 4.1 billion euros ($4.55 billion) of state loans the bank was granted at the height of the euro zone crisis.

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