Monte Paschi board reviews €2.5bn restructuring plan

By Andrew Griffin
12 Sep 2013

The board of Monte dei Paschi di Siena, Italy's third largest bank, reviewed the lender's restructuring plan on Tuesday, ahead of expected European Union approval later this month.

The bank, the world's oldest, is set to raise €2.5bn of equity — almost equal to the bank’s market capitalisation, which was at €2.4bn on Wednesday.

The bank's board hopes to approve the plan on September 24. It will then be submitted to the Italian Ministry of Economy and Finance ...

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