Monte dei Paschi shares lifted by reports on Qatar interest

Qatar Investment Authority is reportedly open to acting as an anchor investor in the Tuscan bank's capital increase
Monte dei Paschi shares lifted by reports on Qatar interest
Headquarters of the Monte dei Paschi di Siena bank in Siena, in the Italian region of Tuscany. (Giuseppe Cacace/AFP/Getty Images)
By Reuters
Wed 09 Nov 2016 12:47 PM

Shares in Italy's Monte dei Paschi di Siena opened up more than 10 percent on Tuesday in volatile trade, lifted by reports that Qatar wealth fund QIA could invest in the bank.

"The stock is boosted by reports QIA could strike a deal as anchor (investor)," a Milan-based trader said.

Sources told Reuters on Friday that Qatar Investment Authority was open to acting as an anchor investor in the Tuscan bank's capital increase. One of the sources said a final decision by the Qataris was expected in the next two weeks.

The bank's advisers have started in-depth talks with QIA, Italian daily MF reported on Tuesday, adding the wealth fund could invest between 1.0 billion and 1.5 billion euros ($1.7 billion) in the lender.

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