ITALY LOOKS TO SELL UP TO 15% OF MONTE DE PASCHI IN SHARE PLACEMENT

Italy aims to sell up to around 15% of Monte dei Paschi di Siena in an upcoming share placement, reducing the government's stake in the bailed-out bank to as low as 12%.

Italy currently holds 26.7% of Monte dei Paschi (MPS), the world's oldest bank still in business, and has pumped a total of 7 billion euros ($8 billion) into the lender, by taking it over in 2017 and shouldering the bulk of a make-or-break cash call in 2022.

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