Banca Monte dei Paschi di Siena jumps on speculation Qatar to invest
Shares in stricken Italian lender Banca Monte Dei Paschi di Siena snapped higher, with some market commentary attributing the move to speculation that a roadshow for the lender's upcoming €5bn capital increase might have succeeded in attracting some investors.
Banca Monte dei Paschi di Siena
€6.04
19:00 18/10/22
-0.17%
-€0.01
Italian newspaper Milano Finanza reported that Qatar's sovereign wealth fund had expressed preliminary interest, with a formal deal possible in the next few days.
Local press reports also indicated that bidders were expected to present binding offers on Monday for €28bn-worth of bad loans and its platform to manage bad debt.
As of 1625 GMT shares in Monte Paschi were up by 20.14% to €0.25.