Italian lender backs 5 bn-euro share sale | Bangkok Post: news

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Italian lender backs 5 bn-euro share sale

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Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. 

A view taken on January 25, 2013 in Siena shows the headquarters of the Banca Monte dei Paschi di Siena

The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility".

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