Del Vecchio fund ups MPS stake from 3.5% to 9.78%

Delfin, the holding company of the Del
Vecchio family, has upped its stake in Tuscan lender Monte dei
Paschi di Siena (MPS) from 3.5% to 9.78%, CONSOB said Thursday.

   
The fund had acquired its initial share on the occasion of
economy ministry's sale of 15% of the Sienese institute, the
world's oldest bank.

   
MPS, which has struggled in recent years but has been
restructured after nationalisation, is seeking a partner.

   


   

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