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Monte dei Paschi looking to open data room to potential partners: sources

·1-min read
The logo of Monte dei Paschi di Siena bank is seen at a bank entrance in Rome

ROME/MILAN (Reuters) - Monte dei Paschi di Siena is looking to grant access to confidential data to potential merger partners as Italy's Treasury presses ahead with plans to cut its stake in the state-owned bank, three sources close to the matter said.

The board of the Tuscan bank meets on Monday and may already approve the opening of the data room then, the sources said.

Italy has hired advisers to cut its 64% stake in Monte dei Paschi and meet commitments taken with the European Union when it rescued the bank back in 2017.

Rome has identified UniCredit as the ideal merger partner for the Siena-based lender, sources have said.

(Reporting by Giuseppe Fonte and Valentina Za)