Friday, September 24

Monte dei Paschi prepares to close 50 branches-letter to unions

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MILAN — Monte dei Paschi di Siena is moving to close 50 branches in line with commitments taken with European Union authorities under its restructuring plan through 2021, a copy of a letter the state-owned bank sent to unions showed on Wednesday.

It was not immediately possible to reach Monte dei Paschi for comment. (Reporting by Valentina Za, editing by Cristina Carlevaro)

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