UniCredit Dismisses ‘Unjustified’ Monte Paschi Speculation (1)

UniCredit SpA said that recent media reports about its interest in potentially buying a stake in rival Banca Monte dei Paschi di Siena SpAwere “unjustified.”

“The recent rumours and constant noise with regards to the MPS stake are speculative in nature and unjustified, as is the speculation regarding the alleged interest in purchasing other stakes,” UniCredit said in a statement on Thursday. “It is disappointing that once again we are having to address unfounded rumours, that are now pure invention and serve no purpose other than to create noise and cause distortion in the market.”

UniCredit shares gained 1% ...