EU has asked Italy for details on the November MPS stake placement, source says

The European Commission has asked Italy for details on the placement of a 15% stake in Monte dei Paschi (MPS) BMPS Rome carried out in November, a source with knowledge of the matter said on Tuesday.

The Italian government's holding in the bank fell to 11.7% after the stock sale, freeing MPS from state aid constraints imposed with the 2017 rescue and paving the way for the takeover offer the Tuscan bank launched in January for rival Mediobanca MB.

The Commission did not immediately respond to a request for comment.

News of the request for information from the EU Commission was first reported by the Financial Times.