AXA sells its stake in Banca Monte dei Paschi di Siena

AXA has sold its 7.94% stake in the capital of Banca Monte dei Paschi di Siena (MPS) to institutional investors.

The operation involves the sale of 100 000 000 MPS shares at a price of 2.33 EUR (2.5 USD) per share, for a total amount of 233 million EUR (250 million USD).

The French group will directly or indirectly retain 0.0007% of the Italian bank's capital.

The transaction is not likely to have any impact on the long-standing partnership between AXA and MPS. It is worth recalling that the French insurer has supported the bank by making a financial investment of 200 million EUR (212 million USD) in November 2022 during its last capital increase.