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Business & Finance

Reuters exclusively reports Italy could take on $17 billion of UniCredit bad loans to ease MPS sale

Reuters exclusively reported that Italy is working on a plan to take on about 14 billion euros ($17 billion) of UniCredit’s impaired loans to make a takeover of state-owned Monte dei Paschi more attractive for the country’s second-biggest bank. Shares in UniCredit extended gains on the news, rising by as much as 7.4% before closing more than 6% higher, its biggest one-day rise in almost a month.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Europe
Countries: England
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story