Italy s Cerved in advanced talks to clinch debt collection arm deal - sources
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Italy s Cerved in advanced talks to clinch debt collection arm deal - sources
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By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Monte dei Paschi di Siena bank is seen in a bank entrance in Rome, Italy, August 16, 2018. REUTERS/Max Rossi
MILAN (Reuters) - Italy’s Monte dei Paschi (MPS) said on Thursday it was working to reduce its legal risks while the European Union assessed the state-owned bank’s ability to stay in business before unlocking more public aid.
Italy rescued MPS in 2017 at a cost of 5.4 billion euros ($6.6 billion) to taxpayers. It now stands ready to cover at least in part a 2.5 billion euro capital shortfall at the lender, but wants to first find a buyer for it.