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Italy, UniCredit talks on Monte Paschi purchase collapse

Italy, UniCredit talks on Monte Paschi purchase collapse

10/24/2021 7:45:00 PM

Italy, UniCredit talks on Monte Paschi purchase collapse

Italy's government and UniCredit have called off negotiations over the sale of ailing Banca Monte dei Paschi (MPS), the Italian lender and Italy's Ministry of Economy and Finance said in a joint statement on Sunday.

(MPS), the Italian lender and Italy's Ministry of Economy and Finance said in a joint statement on Sunday."Despite the effort from both sides, negotiations pertaining to the potential acquisition of a defined perimeter of Banca Monte dei Paschi di Siena will no longer continue," the statement said.

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Reporting by Aishwarya Nair in Bengaluru; editing by David EvansOur Standards:More from ReutersSign up for our newsletterSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox. Read more: Reuters Top News »

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EXCLUSIVE Italy, UniCredit to end talks over Monte dei Paschi sale -sourcesItaly's government and UniCredit are preparing to call off negotiations over the sale of ailing bank Monte dei Paschi (MPS) after efforts to reach an agreement over a costly recapitalization plan fell through, sources told Reuters.

EXCLUSIVE Italy, UniCredit to end talks over Monte dei Paschi sale -sourcesItaly's government and UniCredit are preparing to call off negotiations over the sale of ailing bank Monte dei Paschi (MPS) after efforts to reach an agreement over a costly recapitalization plan fell through, sources told Reuters.

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