Monte Paschi Won’t Seek More Aid to Cover Losses, CEO Says
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Banca Monte dei Paschi di Siena SpA won’t seek more aid to cover potential losses from derivatives that were undisclosed by the bank’s previous management, Chief Executive Officer Fabrizio Viola told reporters today.
The bank, which has requested a 3.9 billion-euro ($5.2 billion) bailout, isn’t holding talks with potential new investors in the Siena, Italy-based lender, Viola said at Milan’s Foreign Press Club.