Paschi Drops With Investors Worried About Italy’s Sale Plan
- Government seen as lacking clear strategy for state sale
- Right-wing coalition is divided on fate of Monte Paschi
The statue of Sallustio Bandini, an economist and politician, in front of Banca Monte dei Paschi di Siena SpA bank headquarters in Siena, Italy.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Banca Monte dei Paschi di Siena SpA was the lead decliner on the Italian stock benchmark index amid concern by analysts and investors about the lack of a clear strategy for the state’s sale of its stake.
The stock fell as much as 3% Monday and traded down 1.7% as of 12:20 p.m. in Milan. Monte Paschi shares have risen 29% so far this year, giving the bank a market value of €3.1 billion ($3.3 billion).