Monte dei Paschi di Siena, informal go-ahead from the EU to the bad bank. Vestager: “State quota must be sold, it is part of the commitments”


The DG Competition of the European Commission has given an informal green light to Mps for creating one bad bank in which transfer a part of the impaired loans. This was confirmed by the executive vice president Margrethe Vestager, according to which “as far as we can see, it is not an operation of state aid “. But Vestager has specified how “Italy has not notified the operation so far”. In the afternoon the bank confirmed that it had started talks with ECB is Consob for the relative authorizations. According to rumors, the institute is negotiating the sale of approximately 10 billion Npl to Amco, 100% controlled by the Treasury, which is also the first shareholder with over 68%.

However, the Vice-President of the Commission has also stopped the plans of those who would like to keep Banca Mps in the hands of the state in the long term. “I have not heard anything of the things you ask for – she answered in a video videoconference in Brussels, to those who asked her for a comment on press rumors about the intentions not to dismiss the majority stake acquired by the Treasury with the precautionary recapitalization of 2017. “It is part of the commitments of the bank that eventually comes sold“, Short size Vestager.

In a note released after the rumors of this morning, the Sienese institute explains that the possible partial split operation of a compendium formed, inter alia, by a “substantial portion” of impaired loans “is under study and discussions are underway with the supervisory authorities”. The “insights into the compendium composition” to date “have not been completed”.

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