Monte dei Paschi di Siena, the oldest surviving bank in the world and Italy's third largest bank, is in talks to sell a 15-20% stake to the sovereign wealth fund of Qatar.
Reuters is reporting that Loss-making Monte dei Paschi, which received 4.1 billion euros ($5.58 billion) of state aid last year after being hit by the sovereign debt crisis and a derivatives scandal, is looking to raise 3 billion euros in fresh capital. A sovereign fund in Oman is also interested in acquiring stake.
Qatar Investment Authority is listed in the Middle East Investors Directory with the code BD44
More details from Reuters here.
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