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Italy picks BAC for bank privatization
Posted on 11/21/20 at 8:37 am
Posted on 11/21/20 at 8:37 am
Hoping this is some good news for long term stability since I have been worried about Berkshire since they dumped Costco.
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quote:
ROME/LONDON/MILAN — Italy’s Treasury has picked Bank of America and Orrick as financial and legal advisers to secure a merger deal for bailed-out bank Monte dei Paschi (MPS) as part of its privatization plan, four sources close to the matter told Reuters.
Rome aims to clinch a merger with a healthier peer in 2021, the sources said, to provide a long-term solution for the bank, which has been backed by the government since 2017 following an 8 billion euro ($9.5 billion) rescue deal.
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