reducing divi 66% RAISING 7.5 BLN 8 Jan 2015 15:14
MILAN, Jan 8 (Reuters) - Shares in troubled Italian lender
Monte dei Paschi di Siena soared 8 percent,
accelerating gains on the back of takeover speculation after
news that Spain's Santander was planning a 7.5 billion
euro capital increase, traders said.
Monte dei Paschi, which is looking for a buyer after
emerging as the weakest bank in a Europe-wide health check of
the sector, was up 7.5 percent at 0.50 euros by 1444 GMT.
Santander, which is often cited as a possible bidder for
Monte dei Paschi, has repeatedly said in the past it was not
looking at the Tuscan bank, Italy's third largest.
Santander on Thursday announced it would place shares on the
market for 7.5 billion euros without giving a reason for the
move.
A source said the Spanish bank was lining up UBS - which is
also advising Monte dei Paschi on its strategic options - to run
t