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Limbo dance

6 March 2014 By Dominic Elliott, Neil Unmack

Shares in Italy’s rickety Monte dei Paschi soared on claims its main shareholder, a charitable trust, had cut its stake. But it hasn’t. With the shareholder needing to sell to support a rights issue and save MPS, the lender is stuck in limbo. This is no way to recapitalise a bank.

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