Deals
Paschi Drops on Concern Buyers to Balk at Capital Raising
This article is for subscribers only.
Banca Monte dei Paschi di Siena SpA, the Italian lender with the biggest capital hole after a health check of European banks, slumped to a record low on concern that it may struggle to plug the gap.
Monte Paschi fell as much as 23 percent to 77.4 cents in Milan, the lowest level since it was listed in 1999, and closed down 22 percent at 78.5 cents. The shares have lost 28 percent this year. Italy’s stock-market regulator banned short sales of Paschi stock today and tomorrow.