The economy ministry said Monday it
had started a fast track for ceding 20% of the 64.2% of Monte
dei Paschi di Siena (MPS) it has owned since a bailout of the
troubled Tuscan lender in 2017.
"The Ministry of Economy and Finance announces that it has
initiated an accelerated order collection procedure for the sale
of 251,937,942 ordinary shares of Banca Monte dei Paschi di
Siena, corresponding to approximately 20% of the Bank's share
capital," it said in a statement.
MPS is the world's oldest continually trading bank.
The government has said it will be privatized when the market
conditions are right.
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