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.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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