MILAN (Dow Jones)--The Italian banking foundation that controls Banca Montedei Paschi di Siena (BMPS.MI) Tuesday said it will vote in favor of the EUR5billion capital hike necessary to finance the acquisition of Banca Antonveneta.
In an emailed statement, the Monte Paschi foundation reiterated it backs MontePaschi acquisition of Antonveneta.
Siena-based Monte dei Paschi will hold an extraordinary shareholders meeting March 6 to approve the capital hike and the convertible bond issue to fund thepurchase.
Company Web site: http://www.mps.it
-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906; sabrina.cohen@dowjones.com
(END) Dow Jones Newswires 03-04-08 1322ET Copyright (c) 2008 Dow Jones & Company, Inc.