Clouds hang over Monte T2s as UniCredit sets out merger ambitions
by Tyler Davies
July 30, 2021 11:00 AM
Banca Monte dei Paschi di Siena’s capital instruments are at risk of being zeroed after UniCredit announced this week that it could buy the state-owned Italian lender on extremely favourable terms. Market participants are more optimistic on Monte’s senior debt, which would rally strongly if included in a merger.
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