Monte Paschi Share Sale Talks Continue as Banks Seek Commitments

Banca Monte dei Paschi di Siena SpA, the Italian Treasury and banks are still working to finalize an underwriting agreement that will allow the lender to proceed with a planned share sale, according to people familiar with the matter.

The parties adjourned meetings to find an accord on the 2.5 billion-euro sale to Wednesday, the people said, asking to not be identified discussing confidential information. Banks arranging the deal are waiting for written commitments from several investors before taking a risk on unsold shares, they said.

Chief Executive Officer Luigi Lovaglio is seeking to restructure the historic bank and restore ...