MPS bail-in fears recede as hopes rise of state help
Banca Monte dei Paschi’s shares leapt 7% on Wednesday morning, on growing hopes that a way will be found for the Italian state to strengthen its balance sheet, enabling it to achieve a €5bn capital raising demanded by the European Central Bank and avoid a bail-in.
UniCredit rose 6.2% and Intesa Sanpaolo and UBI Banca 2.6%.Reuters reported on Tuesday that the state was discussing a plan to buy €2bn of junior notes held by retail investors and convert them to equity. Together with the €1bn MPS raised in a voluntary swap of subordinated ...
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