The privatisation of Italian lender Monte dei Paschi di Siena should foster the creation of several large banking groups in the country, Prime Minister Giorgia Meloni was quoted as telling the Milano Finanza newspaper on Saturday.
View of the logo of Monte dei Paschi di Siena , the oldest bank in the world, which faces massive layoffs as part of a planned corporate merger, in Siena, Italy, August 11, 2021. REUTERS / Jennifer Lorenzinishould foster the creation of several large banking groups in the country, Prime Minister Giorgia Meloni was quoted as telling the Milano Finanza newspaper on Saturday.
Monte dei Paschi , of which the government owns 64% following a 2017 bailout, is seen playing a pivotal role in the consolidation expected among Italy's mid-sized lenders.in 2021, the government is expected to seek another bank interested in buying its stake in the Tuscan lender. "We want to manage the exit of the state from the capital of MPS in an orderly manner to create the conditions for more large banking groups in Italy," Meloni was quoted as saying in an interview published on Saturday.as MPS chief executive for another term.
"We must not repeat the mistakes of the past. We confirmed Lovaglio at the helm of Monte dei Paschi, the CEO successfully led the last capital increase, and now we must work to bring Monte back to the private market," Meloni said. The government is also working to sell ITA Airways, the successor of Alitalia, to Germany's Lufthansa
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