Paschi Board Member Probed Over Mediobanca Deal, Ansa Reports
Employees enter the administrative offices of Banca Monte dei Paschi di Siena in Siena, Italy.
Photographer: Francesca Volpi/BloombergA high-ranking Italian Treasury official who sits on the board of Banca Monte dei Paschi di Siena SpA is under investigation for alleged insider trading related to the takeover of Mediobanca SpA, newswire Ansa reported Monday.
Stefano Di Stefano was placed under investigation after Italy’s financial police seized his mobile phone last year in relation to a probe into the Italian lender’s takeover of the Milan-based investment bank, Ansa said, citing unidentified people familiar with the matter. Di Stefano allegedly purchased about €100,000 ($119,000) worth of shares in Mediobanca and Monte Paschi, the report added.