UBS, Jefferies Exclusive: Picked as Lead Advisers for MPS Privatisation

Italy’s Ministry of Treasury has tapped UBS, Jefferies, and Clifford Chance to provide financial and legal guidance for the privatization of Monte dei Paschi di Siena, the bank that received a bailout.

The government is bound by commitments made during the 2017 bailout, requiring it to eventually sell off its 64% stake in the institution, as agreed with the European Union competition authorities.

Previously, the bank’s sale to UniCredit failed, prompting Italy to accept undisclosed