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Reuters first to report Italy, UniCredit to end Monte dei Paschi sale talks; market reacts

Business & FinanceDeals

Reuters broke the news that the Italian government and UniCredit had called off discussions over the sale of Monte dei Paschi (MPS), with the two sides poles apart over the terms of a costly recapitalization plan for the Tuscan bank. News that the deal had collapsed was later confirmed in a joint statement the following day. The move complicates efforts by Prime Minister Mario Draghi’s government to meet a mid-2022 deadline to re-privatize the bank Rome rescued in 2017.

Market Impact

Shares in MPS fell as much as 9.5% on Monday while UniCredit’s stock was down 3.5% when trading began.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & FinanceEconomy & PolicyEquitiesFinancial Services

Regions: Europe

Countries: Italy

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story


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