August 12, 2016 / 1:42 PM / 2 years ago

Monte dei Paschi shareholder Fintech cuts stake to 2.24 pct

MILAN, Aug 12 (Reuters) - Investment firm Fintech, the top shareholder in Monte dei Paschi di Siena, has cut its stake in Italy’s third biggest bank to 2.24 percent from 4.5 percent, a filing by market regulator Consob said on Friday.

The filing said the stake reduction took place on Aug. 4, around a week after the Tuscan lender announced a rescue plan including a 5-billion euro capital increase to avert the risk of being wound down.

With Fintech cutting its stake, the Italian treasury becomes the bank’s biggest investor with a holding of around 4 percent. (Reporting by Silvia Aloisi)

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