The Milan stock exchanges' FTSE
Mib index was 2% down at 15,464 points after over two hours of
trading on Wednesday.
The biggest loser was Telecom Italia, down 8.2%, after
French businessman Xavier Niel announced he would sell his
options in the group, with his Iliad set to buy assets from the
soon-to-be-merged 3 Italy and Wind in order to create a new
entrant in the Italian telecoms market.
Troubled bank Monte dei Paschi di Siena, however, was up
8.41% after coming under huge pressure in recent days following
the European Central Bank's demand it slash its exposure to
non-performing loans.
The stock market authorities have temporarily bank short
selling of MPS shares in a bid to stop the stock coming under
speculative attacks.
Fellow banks BPM and Banco Popolare were up 2.26% and 0.2%
respectively, but Fiat Chrysler Automobiles (FCA) shed 3.8%.
ALL RIGHTS RESERVED © Copyright ANSA
