Milan

MPS board to OK restructuring plan end June

8.3 bn recapitalisation

MPS board to OK restructuring plan end June

Milan, June 19 - The board of Monte dei Paschi di Siena (MPS) will meet on June 29 or 30 to examine a draft restructuring plan for the troubled Tuscan lender that will then be sent to the European Commission for a green light, sources said Monday. The sale of NPls to the Atlante fund will be defined by June 28. The recapitalisation will be 8.3 billion euros, with a State intervention of around six billion, and lay-offs will be 6-7,000, the sources said. MPS, Italy's third-biggest and the world's oldest bank, is set for a painful restructuring after it came last in ECB stress tests due to its high level of NPls.

Lascia il tuo commento

Condividi le tue opinioni su Gazzetta del Sud online

Caratteri rimanenti: 400

Le altre notizie

i più letti di oggi