Italy's CDP buying Monte dei Paschi is 'fantasy' - Treasury official
Reuters
Published Apr 11, 2018 09:19
Italy's CDP buying Monte dei Paschi is 'fantasy' - Treasury official
MILAN (Reuters) - A senior Italian Treasury official dismissed as "fantasy" the idea that state agency Cassa Depositi e Prestiti (CDP) could buy bailed-out lender Banca Monte dei Paschi di Siena (MI:BMPS).
Il Messaggero daily reported on Wednesday that Monte dei Paschi could be involved in a potential plan by the Five-Star Movement to make CDP more similar to a French sister agency by putting it in control of a bank to spur investments in infrastructure and corporate lending.
"I won't comment but it sounds like a fantasy," Alessandro Rivera told Reuters on the sidelines of a conference in Milan.
Asked about what the hurdles would be, Rivera said it would be complicated as CDP would have to fall under banking oversight.
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Written By: Reuters
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