Banca Monte dei Paschi di Siena S.p.A. (BIT:BMPS) said it would grant access to confidential data to potential merger partners selected by its advisers, as Italy presses ahead with plans to cut its stake in the state-owned bank. Confirming comments to Reuters from sources earlier on January 11, 2021, Monte dei Paschi (MPS) said its board had hired Credit Suisse Group AG (SWX:CSGN) to help Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) in the task of studying strategic options and sounding out market interest for the Tuscan bank. Rome has identified UniCredit S.p.A. (BIT:UCG) as the ideal merger partner for MPS, sources have said previously, but Italy's second-biggest bank wants strict terms to be met before considering an acquisition and is yet to sign a confidentiality agreement.

The Treasury wants to see if Banco BPM Società per Azioni (BIT:BAMI) could be interested in entering the data room, one of the sources said. Banco BPM was not immediately available to comment. UniCredit would only consider a deal that did not affect its capital reserves.

It also wants to be sure that the package of incentives Rome is readying to ease a sale will be approved in Brussels and Frankfurt, the sources have said.