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Italy, UniCredit talks on Monte Paschi purchase collapse -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A view from Unicredit Headquarters in Milan. Many employees work remotely due to the coronavirus epidemic. REUTERS/Yara Nardi

(Reuters) – Italy’s government and UniCredit stopped negotiations regarding the sale of the ailing Banca Monte dei Paschi (MPS), said the Italian lender and Italy’s Ministry of Economy and Finance in a joint statement.

The statement stated that “despite the efforts of both parties, negotiations regarding the possible acquisition of Banca Monte dei Paschi di Siena’s defined perimeter will not continue.”

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