Italian bank Monte Paschi gambles on turnaround by year-end

MILAN (Reuters) - Italian lender Monte dei Paschi di Siena plans to lay off a tenth of its staff, shut branches and sell assets to win investor backing for a 5 billion euros ($5.4 billion) cash call that could shape the fortunes of the wider banking sector.

Italian bank Monte Paschi gambles on turnaround by year-end
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