ROME: Italian bank rescue fund Atlante said on Sunday it had no plan to invest in Monte dei Paschi di Siena as Italy’s third-biggest bank tries to raise 5 billion euros ($5.60 billion) in capital to avert the risk of being wound down.
“The Atlante fund is not assessing a possible investment in the bank’s capital,” the fund’s manager Quaestio Capital Management said in a statement. Quaestio also denied a press report that its Chairman Alessandro Penati could become the next Monte dei Paschi’s chairman, saying “Penati had not been contacted by anyone and was anyway unavailable.”