Monte dei Paschi
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World's oldest bank to offer a pick-up to recent Italian deals
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MPS has been on a strong run since its last recap, aided by rising interest rates in the eurozone
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The Italian Ministry of Economy and Finance has cashed in on a dramatic rebound in MPS since its recapitalisation a year ago
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◆ World’s oldest bank scoops €500m with latest deal ◆ Only 25bp of concession needed to seal senior sale ◆ Bank faces second half MREL shortfall
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The €2.5bn dilutive rights issue accompanies a four year strategic plan
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Monte dei Paschi di Siena has begun a turnaround plan involving a €2.5bn recapitalisation backed by the Italian government
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The Italian lender has big challenges to resolve in Russia and at home but its corporate finance build-out is on a steady trajectory, writes David Rothnie
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The bank is weighing a capital increase and will need to delay a privatisation deadline
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Investors consider feasibility of state recap amid uncertain future
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Tier twos trade violently as deadline for UniCredit deal draws closer
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The rating agency said the bank's tier twos were at a high risk of default because of UniCredit's takeover offer
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There are worrying signs in the way Banca Monte dei Paschi di Siena’s tier twos have traded after UniCredit signalled its interest in the bank.