Italian lender Monte dei Paschi di Siena expects to complete its planned capital increase by July and can use divestments to help plug a hole in its balance sheet, Chairman Alessandro Profumo told an Austrian newspaper.
Mediobanca
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Mediobanca, one of the shareholders in Telco SpA who is the majority shareholder in Telecom Italia SpA, announced the cut in its stake in the holdings company, lowering the value of the shares of the telecommunications firm.
Mediobanca planned to sell almost all of its large stakes in companies after being held under pressure to improve shareholders returns.
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