Monte dei Paschi looks toward bailout

|By:, SA News Editor

The world's oldest bank is in exclusive talks with a domestic fund and a group of investors over the sale of its bad loan portfolio, which it needs to offload before it can be taken over by the state.

Monte dei Paschi (OTCPK:BMDPY), which at the end of last year had €26B in gross defaulting debts, has set a June 28 deadline for the discussions.

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