Italy raises 1.1 bln euros by selling 15% stake in Monte Paschi
ROME, Nov 13 (Reuters) -Italy on Wednesday sold a further 15% stake in bailed-out bank Monte dei Paschi di Siena (MPS) BMPS.MI, pocketing 1.1 billion euros ($1.16 billion) and advancing plans to re-privatise the lender after a failed attempt in 2021.
The Treasury placed the shares at 5.792 euros each through an accelerated bookbuilding procedure (ABB), offering a 5% premium to Wednesday's closing price, it said in a statement.
When settled, the transaction would reduce Italy's stake in MPS, the world's oldest bank, to 11.7% from 26.7%.
($1 = 0.9461 euros)
Reporting by Giuseppe Fonte, editing by Alvise Armellini
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