ROME (Reuters) -The European Central Bank (ECB) has authorised Francesco Gaetano Caltagirone to raise his stake in Tuscan lender Monte dei Paschi di Siena (MPS) to up to 20%, a source close to the
ECB Approves Caltagirone's Increased Stake in Monte dei Paschi
ECB's Decision on Caltagirone's Stake in MPS
ROME (Reuters) -The European Central Bank (ECB) has authorised Francesco Gaetano Caltagirone to raise his stake in Tuscan lender Monte dei Paschi di Siena (MPS) to up to 20%, a source close to the Italian entrepreneur told Reuters on Tuesday.
Background on Caltagirone's Investment
The news was first reported by Italian newspapers which said that the ECB had given its green light on Monday, after a request to increase the shareholding had been filed in August.
Impact on Monte dei Paschi's Future
Caltagirone held a stake of just over 10% at the beginning of October, when MPS ended its bid for Italian merchant bank Mediobanca.
(Reporting by Stefano Bernabei and Francesca Piscioneri, writing by Giulia Segreti, editing by Cristina Carlevaro)
