Mps, what is the 2.5 billion capital increase and what are the unknowns

MILANO – That of Mps, a bank 64% controlled by the Ministry of Economy, is a race against time. The goal of the CEO, Luigi Lovaglio, with the implicit approval of the Treasury, is to initiate the necessary 2.5 billion capital increase on 17 October. As part of the operation, which represents the seventh recapitalization for Siena in the space of 14 yearsthe Mef has already pledged to do its part, paying out 1.6 billion.