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Monte Paschi says cap increase deal with banks expires in January

By Silvia Aloisi MILAN (Reuters) - A preliminary commitment by banks to underwrite Monte dei Paschi's <BMPS.MI> 3-billion-euro ($4 billion) capital increase expires at the end of January, the Italian bank said in a document showing why it needs to press on with the cash call. If no capital increase is launched by that date, the pre-underwriting agreement with a pool of 10 banks would come to an end and Monte dei Paschi would have to restart negotiations to form a new consortium guaranteeing the rights issue, it said.

Monte Paschi hopes to return to profit in 2014: CFO

MILAN (Reuters) - Italian lender Monte dei Paschi di Siena said it hoped to return to profit in 2014 after three consecutive years of losses, Chief Financial Officer Bernardo Mingrone said on Thursday. The Tuscan lender, the world's oldest, booked nearly 8 billion euros ($10.88 billion) of losses over 2011 and 2012 and is on track to also end 2013 in the red. ($1 = 0.7353 euros) (Reporting by Silvia Aloisi; Editing by Lisa Jucca)

Monte Paschi top investor committed to bank relaunch, where possible

MILAN (Reuters) - The main shareholder of Italy's No. 3 lender Banca Monte dei Paschi di Siena <BMPS.MI> said on Wednesday it remained committed to supporting the relaunch of the bank "where possible". In a statement the foundation shareholder said it "acknowledged" the board's decision to propose a rights issue of up to 3 billion euros ($4 billion), but did not disclose its final position on the issue.

Shares in Italy's Monte Paschi fall as capital hike looms

MILAN (Reuters) - Italian lender Monte dei Paschi di Siena <BMPS.MI> is expected to approve on Tuesday a 3 billion euro ($4.05 billion) capital increase to be launched at the beginning of next year at a price substantially lower than the current value of its shares. Shares in the lender fell more than 10 percent, extending losses from the previous session when the stock fell 7.5 percent, as uncertainty rose over whether the bank would manage to carry out the cash call and boost its depleted capital base.

Monte Paschi's top shareholder would not welcome January capital hike

SIENA, Italy (Reuters) - The banking foundation that is the biggest shareholder of Italy's loss-making bank Monte dei Paschi di Siena <BMPS.MI> said on Tuesday carrying out a planned capital increase in January would not be a welcome move. Earlier this month, Monte Paschi Chief Executive Fabrizio Viola told analysts there were three possible windows for the capital hike to be launched - January 2014, June or the end of the year. "It's clear that the more time goes by, the more difficult it gets," Viola said.

Monte Paschi posts third quarter loss, bad loans rise

By Silvia Aloisi MILAN (Reuters) - Italy's scandal-hit Monte dei Paschi <BMPS.MI> posted its sixth straight quarterly loss in the three months to September, highlighting the challenges the bailed-out Tuscan bank faces to lure private investors and avoid nationalization. Italy's third-largest bank by branches reported a net loss of 518 million euros ($697 million) in the first nine months of the year.

Carige seen heading towards cash call after writedowns

By Francesca Landini MILAN (Reuters) - Troubled Italian bank Carige <CRGI.MI> is seen heading towards a capital hike after hefty writedowns punched a hole into its already weak balance sheet, dragging its shares to a two-month low on Tuesday. The Genoa-based lender said late on Monday it had booked surprise goodwill writedowns on a range of assets worth 1.65 billion euros ($2.21 billion) following queries by Italian market regulator Consob on the value of some investments.

Carige seen heading towards cash call after writedowns

By Francesca Landini MILAN (Reuters) - Troubled Italian bank Carige <CRGI.MI> is heading towards a capital hike after hefty writedowns punched a hole into its already weak balance sheet, analysts said, dragging its shares to a two-month low on Tuesday. The Genoa-based lender said late on Monday it had booked surprise goodwill writedowns on a range of assets worth 1.65 billion euros ($2.21 billion) following queries by Italian market regulator Consob on the value of some investments.

Monte Paschi's key shareholder open to bank's merger: document

By Silvia Ognibene SIENA, Italy (Reuters) - The top shareholder in Monte dei Paschi dei Siena <BMPS.MI> is open to the idea of a merger of the troubled Italian bank with another financial group, preferably "of an international standing", it said in a document approved by its board this month.

Italy treasury denies report on ultimatum to Monte Paschi investor

MILAN (Reuters) - The Italian treasury denied a newspaper report on Friday that it had set an October 29 deadline for the top investor in Banca Monte dei Paschi di Siena to find a buyer for its stake in the bank or be prepared to sell some of it on the market. The Monte dei Paschi foundation has been in talks with the treasury about selling part of its 33.5 percent stake in Italy's third biggest lender to pay back creditors, sources close to the situation told Reuters earlier this week.
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