Monte Dei Paschi Capital Talks Enter Final Stretch After Italy Vote

Monte dei Paschi di Siena faces a tight schedule to secure cornerstone shareholders for a share sale of up to 2.5 billion euros ($2.4 billion) after an election pause during which investors were non-committal ended on Monday, Reuters reported. After leading the conservative alliance to victory in Sunday's vote, Giorgia Meloni looks set to become Italy's first woman prime minister at the head of its most right-wing government since World War Two. Maurizio Leo, a senior economic adviser to the Brothers of Italy leader Meloni, said MPS was in good hands. "We trust Chief Executive Luigi Lovaglio can see through the transaction," he told Reuters, adding: "He's got the experience and he can deliver." MPS faces the challenge of raising more than eight times its current market value of 300 million euros, five years after a bailout that provided 8.2 billion euros in capital.">Read more.