milan (reuters) – the u.s. investment fund fortress and elliott withdrew from talks to buy the portfolio of bad debts of banca monte dei paschi di siena, it was learned friday from three sources, a serious blow to the proposed bailout by the government.
the fourth italian bank, which was at the end of 2016, a total amount of eur 26 billion of bad and doubtful debts, dealing with fortress and elliott, as well as the rescue fund of the italian banking sector in atlantis.
according to sources, fortress and elliott withdrew from talks without agreement on the modalities of the transfer of the portfolio and atlante is now he will go it alone.
atlante declined to comment.
the european commission (ec) has given this month’s agreement in principle to the rescue of monte dei paschi, on the condition that the private players are committed to its bad loans, said the sources.
monte dei paschi, the oldest bank in the world still in operation, said that it was an agreement on the chapter by 28 june.
(claude chendjou for service in french, edited by wilfrid exbrayat)
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Translated by forexguides.info Team