Italy’s Caript has no plans to invest in Monte dei Paschi, chairman tells Reuters

FLORENCE, Italy (Reuters) – Italy’s Fondazione Cassa di Risparmio di Pistoia e Pescia (Caript) has no plans to invest in an upcoming new share sale at state-owned bank Monte dei Paschi di Siena, the chairman of the not-for-profit banking foundation told Reuters.

“As far as Caript is concerned, an investment in Monte dei Paschi is not on the agenda,” Chairman Lorenzo Zogheri told Reuters.

Italian daily Il Sole 24 Ore reported on Wednesday Italy’s Treasury had sounded out banking foundations, long-standing investors in the country’s lenders, as Monte dei Paschi struggles to secure support from private investors amid tough markets. The report said Tuscan foundations such as Caript were top of the list.

(Reporting by Silvia Ognibene, writing by Valentina Za, editing by Maria Pia Quaglia)