Banca Monte dei Paschi di Sienna’s bonds tumbled 6-7% on Monday on uncertainty over finding a buyer for the world’s oldest bank. Reports last year suggested that UniCredit would acquire the bank but no details on any buyers have emerged yet. Some Italian newspapers noted that besides UniCredit who is reportedly wary of buying the bank now, Banco BPM, BPER and Poste Italiane were other interested entities. Another report also said that Banco BPM is growing interest in and is examining Banca Monte’s assets. Separately, the ECB has sought clarity of Banca Monte’s planned €2.5bn ($3bn) capital hike according to Ansa news. The lender is rated at B by Fitch and is on RatingWatch Negative.
Banca Monte Bonds Plummet On Uncertainty Over Sale
