Oslo: Norway’s sovereign wealth fund, which owns a stake of more than 2.5% in dei Paschi di Siena SpA, plans to back the Italian bank’s bid for competitor Mediobanca SpA at a crucial investor meeting next week.
Norges Bank Investment Management, a unit of the Norwegian central bank, will vote in favour of Monte Paschi’s proposal to issue the fresh shares it needs to finance the offer, according to the unit’s website.
