Fabrib
Forumer storico
LONDON/MILAN/ROME (Reuters) - Italy's Treasury asked financial and legal advisers on Friday to pitch for a role in the privatisation of Monte dei Paschi as it aims to secure a merger deal for the ailing lender, two sources familiar with the matter told Reuters.
Investment banks and law firms have until Nov. 17 to submit their proposals and a decision is expected within a week, the two sources said, speaking on condition of anonymity as the matter is confidential.
Rome owns 68% of Monte dei Paschi after a 2017 bailout.
A spokesman for the Treasury declined to comment while Monte dei Paschi was not immediately available.
Rome sent out requests for proposals (RFPs) on Friday asking advisers to quote a price for their services to support the Treasury in finding a new owner for its stake.
The mandates will last 12 months, the sources said.
Investment banks and law firms have until Nov. 17 to submit their proposals and a decision is expected within a week, the two sources said, speaking on condition of anonymity as the matter is confidential.
Rome owns 68% of Monte dei Paschi after a 2017 bailout.
A spokesman for the Treasury declined to comment while Monte dei Paschi was not immediately available.
Rome sent out requests for proposals (RFPs) on Friday asking advisers to quote a price for their services to support the Treasury in finding a new owner for its stake.
The mandates will last 12 months, the sources said.