Reuters: Regulatory News: Monte dei Paschi probe targets Antonveneta price -report

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Monte dei Paschi probe targets Antonveneta price -report May 10th 2012, 07:46 MILAN | Thu May 10, 2012 3:46am EDT MILAN May 10 (Reuters) - Public prosecutors investigating whether Banca Monte dei Paschi di Siena misled regulators over its 2007 purchase of Antonveneta from Spain's Santander also want to determine why the sale price was so high, La Stampa reported on Thursday. Banco Santander bought Antonveneta in 2007 for 6.6 billion euros and sold it to Monte dei Paschi for 9.3 billion euros a few months later. The story, which did not cite sources, was headlined "Magistrates on the trail of a 1.5 billion euro payment." On Wednesday, prosecutors in Siena, where Monte dei Paschi is based, said the offices of the bank's main shareholder as well as those of several Italian and foreign financial banks that had dealings with the Tuscan lender were being searched. Sources close to the situation told Reuters police visited the Milan offices of Intesa Sanpaolo, Deutsche Bank and J.P. Morgan as well as other banks in connection with the probe. None of those banks are under investigation, the sources said.

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