JOURNAL ARTICLE

Italy to Sell Additional Stake in Monte Paschi by End of Year.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Migliaccio, Alessandra; Sirletti, Sonia; Albanese, Chiara 3 of 3

Abstract

Italian Finance Minister Giancarlo Giorgetti plans to sell more shares in Banca Monte dei Paschi di Siena SpA within three months to raise money for Italy's budget. The sale is part of Prime Minister Giorgia Meloni's goal to generate €20 billion ($22.1 billion) by reducing Italy's company holdings and cutting its debt. Giorgetti also expressed his desire for Monte Paschi to be involved in banking consolidation in Italy in the future. The government currently owns 26.7% of Monte Paschi, down from 64% last year, and has earned nearly €1.6 billion from previous sales. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/10, pN.PAG
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2024
  • Accession Number:180094505
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