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Top related persons:
Jennifer Lorenzini - 1 Siena - 1 Monte Paschi - 1 Andrea Orcel - 1 Lisa Jucca - 1 Banks - 1 Liam Proud - 1 Streisand Neto - 1
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Monte dei Siena Italy Rome Monte Paschi’s Monte
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REUTERS - 1 Banca Monte dei - 1 Treasury - 1 X - 1 Walmart - 1 Thomson - 1

Search resuls for: "Monte Paschi’s"


3 mentions found


☆ Monte Paschi rebirth is vindication for Rome
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +2 min
REUTERS / Jennifer Lorenzini Acquire Licensing RightsMILAN, Nov 21 (Reuters Breakingviews) - Italy’s privatisation of bailed-out lender Banca Monte dei Paschi di Siena (BMPS.MI) may finally be on the right track. The sale price was nearly 50% higher than last year’s high-stakes 2.5 billion euro capital increase, which cost taxpayers 1.6 billion euros. Rome took advantage of a near-30% rally in Monte Paschi’s shares during the month leading up to the sale. Granted, Rome will never recoup the around 5.4 billion euros it burnt to save Monte Paschi in 2017. Two years ago, interest rates were low and Monte Paschi's recovery seemed a distant prospect.
Persons: Jennifer Lorenzini, Siena, Monte Paschi, Andrea Orcel, Lisa Jucca, Banks, Liam Proud, Streisand Neto Organizations: REUTERS, Reuters, Banca Monte dei, Treasury, X, Walmart, Thomson Locations: Monte dei, Siena, Italy, Rome, Monte Paschi’s, Monte
☆ AXA’s fling with Monte Paschi ends on high note
  + stars: | 2023-02-28 | by ( ) www.reuters.com   time to read: +2 min
With its 200-million-euro investment in Banca Monte dei Paschi di Siena (BMPS.MI), the French insurer was one of the largest backers of a crucial 2.5-billion-euro capital increase that the hard-beaten lender secured in November. For AXA, supporting the cash call was instrumental to protect its existing insurance distribution partnership with Monte Paschi. The French insurer said on Tuesday it had sold 100 million shares, nearly 8% of Monte Paschi’s total, at 2.33 euros each, pocketing 233 million euros. That’s a 17% gain from the 200 million euros it invested in the cash call. Monte Paschi’s recent strong share-price performance has in any case more to do with the improved economic outlook in Europe and rising interest rates than with any merit of its own.
☆ Tricky Monte Paschi cash call comes at high cost
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +2 min
The fees amount to some 15% of the 857 million euros banks and fund Algebris have agreed to backstop. The fees in Saipem’s (SPMI.MI) 2 billion euro rights issue amounted to less than 5% of the amount banks had agreed to mop up. Monte Paschi says investors have committed 37 million euros and others say they will take up more than 50% of the 900 million euro portion of the rights issue reserved for private investors. That implies the banks may get stuck with some 400 million euros of unsold stock in a worst case scenario. Register now for FREE unlimited access to Reuters.com RegisterFor Monte Paschi, the cost of the rights issue will cut some 15 basis points off its Tier 1 capital ratio target of 14.2% for 2024.
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