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EXCLUSIVE: Fortress, Elliott quit talks to buy Monte dei Paschi's bad loans -sources

Reuters  |  MILAN 

By Massimo GaiaMILAN (Reuters) - Investment funds Fortress and Elliott have dropped out of talks to buy Monte dei Paschi di Siena's bad loans, three sources said on Friday, dealing a blow to plans to secure a state bailout for the ailing Italian bank.Fortress and Elliott, together with Italian banking industry bailout fund Atlante, were negotiating to buy bad loans with a total face value of 26 billion euros ($29 billion) from Monte dei Paschi, Italy's fourth largest bank and the world's oldest.However, the sources familiar with the matter said Fortress and Elliott had backed out of the talks ...

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First Published: Fri, June 16 2017. 20:53 IST