Scandal-hit Monte Paschi seeks new investor to revive bank
MILAN (Reuters) – Italian bank Monte dei Paschi di Siena is seeking a financial investor to help revive the ailing lender and will remove a current cap on voting rights to help raise 1 billion euros ($1. 3 billion), its chairman said. "I would like to have a long-term financial investor," Alessandro Profumo told Italian business daily Il Sole 24 Ore in an interview published on Sunday. "Nationality is not a problem. The important thing is that it believes in our project". Late on Saturday the Bank of Italy gave its approval to Monte Paschi’s request for 3. 9 billion euros ($5. . . .
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