Intesa Sanpaolo rules out investment in Monte Paschi

The head of Intesa Sanpaolo (ISP.MI) said on Wednesday Italy’s biggest retail bank was not planning to invest in troubled peer Banca Monte dei Paschi di Siena (BMPS.MI), which is set to carry out a 3 billion-euro capital increase next year. “We ruled it out, firmly,” Intesa Sanpaolo Chief Executive Carlo Messina told reporters when asked about a possible move by Intesa Sanpaolo on Monte dei Paschi. He also ruled out that Intesa Sanpaolo could join the pool of banks that have agreed to guarantee the capital hike.

    

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