Reuters: Global Markets: Monte Paschi shares up after investor backs scrapping stake limit

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Monte Paschi shares up after investor backs scrapping stake limit Jul 16th 2013, 07:33 Tweet Share this Email Print Related News Top Monte Paschi investor backs scrapping stake limit Mon, Jul 15 2013 Related Topics Hot Stocks » Asian Markets » The entrance of Monte Dei Paschi bank headquarters is pictured in Siena January 24, 2013. Credit: Reuters/Stefano Rellandini MILAN | Tue Jul 16, 2013 3:33am EDT MILAN (Reuters) - Shares in Banca Monte dei Paschi (BMPS.MI) rose nearly 3 percent in early trade after the controlling investor of Italy's third largest bank backed changes to ownership rules, potentially paving the way for an overhaul in the shareholder structure. The foundation that controls the bank said late on Monday it has approved scrapping bylaws that barred other investors from owning more than a 4 percent stake in the bank. The new rules, to be adopted on Thursday, are expected to lure new investors. At 0717 GMT (3.17 a.m.ET), shares were trading 2.15 higher at 0.21 euros. (Reporting by Jennifer Clark, editing by Silvia Aloisi) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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