UniCredit CEO rules out reopening of Monte dei Paschi talks
Reuters
Published May 31, 2022 11:49
ROME (Reuters) - UniCredit (LON:0RLS) Chief Executive Andrea Orcel ruled out on Tuesday that talks with Italy's Treasury over the sale of state-owned bank Monte dei Paschi di Siena could resume.
"The negotiations are over, I'm sorry about that, but they're over," Orcel told RaiNews24 television channel after attending the Bank of Italy's annual general meeting in Rome.
Orcel also said Russia, where UniCredit owns the country's 14th largest bank, no longer posed a problem for the Italian lender after it set aside money in the first quarter to cover potential losses. UniCredit has booked over 70% of the potential maximum capital hit from its Russian exposure.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.