Italy's Move to Dispose of Banca Monte dei Paschi di Siena SpA

Italy is complying with EU demands to dispose of Banca Monte dei Paschi di Siena SpA, leveraging favorable market conditions and the bank’s turnaround progress. Lack of interest from rivals makes a merger less likely. The government led by Prime Minister Giorgia Meloni sold 157.5 million shares in the bank at a 2.5% discount, amounting to about €650 million ($704 million), reflecting a pricing 42% higher than the government’s previous placement in November.