July 17, 2013 / 10:45 AM / 5 years ago

EU Commissioner says no agreement yet on Monte Paschi plan

BRUSSELS (Reuters) - The European Commission is in talks with Italy over a restructuring plan submitted by Banca Monte dei Paschi di Siena (BMPS.MI) but no agreement has been reached yet, the EU’s antitrust chief said on Wednesday.

Monte dei Paschi, which received a 4.1 billion euro state bailout earlier this year, sent its turnaround plan to the EU last month to win approval for the loans.

“Recently I communicated some of our points to the (Italian) minister of finance,” EU Competition Commissioner Joaquin Almunia told reporters.

“The conversation continues. We need to find an agreement over the restructuring plan but we are not yet at the end of this conversation,” he said.

Reporting by Francesco Guarascio, writing by Silvia Aloisi

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