Business & FinanceDeals
26 October 2021, 3:38 pm. 1 minute
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.
Shares in MPS fell as much as 9.5% on Monday while UniCredit’s stock was down 3.5% when trading began.
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceEconomy & PolicyEquitiesFinancial Services
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story