Banca Monte dei Paschi di Siena failed to secure moneyStaff Writer | December 22, 2016
Banca Monte dei Paschi di Siena, which has been racing to raise 5 billion euros ($5.22 billion) by the end of the year, said it had failed to secure an anchor investor for its private rescue deal, according to reports.
Banking A €20 billion loan to the banking sector in Italy
Additionally, a debt-for-equity swap offer failed to raise as much capital as hoped.
Italy's parliament approved a €20 billion loan to the country's ailing banking sector, which also can be used to bailout Monte dei Paschi. ■