Italian bank Monte Paschi  is under the threat of nationalization

Italian bank Monte Paschi is under the threat of nationalization

23.12.2016 News

Monte Paschi Italian bank turned up under the threat of nationalization. It was reported by international business publication Bloomberg, referring to its own sources.

According to official information, currently a European financial institution needs an additional capitalization for the amount of 5 billion euros. However, currently it is impossible to realize such a task, due to the lack of the necessary level of interest from investors.

Remind that on the eve  the representatives of the Monte Paschi got an offer to exchange debt for shares. This operation is able to bring the Italian financial company about EUR 2 billion. Also the owners of the bank are planning to get EUR 2,5 billion more through the bond conversion of investors. Transactions must be closed before the end of this year. In case of this does not happen, there is a high probability that Monte Paschi will repeat the fate of Ukrainian Privat.

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