A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo
Monte dei Paschi di Siena (BMPS.MI) said Italian market regulator Consob had approved its debt-to-equity conversion offer which would be launched at 1300 GMT on Monday and run until 1500 GMT on Friday, barring an extension.
MILAN Monte dei Paschi di Siena (BMPS.MI) said Italian market regulator Consob had approved its debt-to-equity conversion offer which would be launched at 1300 GMT on Monday and run until 1500 GMT on Friday, barring an extension.
The bond swap is a key plank of a challenging 5 billion euro ($5.3 billion) capital raising plan aimed at keeping Italy’s third-largest bank in business after it emerged as Europe’s most vulnerable lender in July industry stress tests.
(Reporting by Valentina Za)
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