Italy confident over Monte dei Paschi deal in October – sources

This post was originally published on this site

The sources said the parties, which agreed to exclusive negotiations on July 29, had yet to exchange a comprehensive set of figures on the terms of the deal, which Rome will need to run past European Union authorities to make sure it complies with rules on state aid to banks.

The Treasury expects to be able to finalise a deal which would allow it to return Monte dei Paschi to private hands by cutting the 64% stake it holds following a 2017 bailout.

UniCredit declined to comment.