FLORENCE, Italy (Reuters) - Monte dei Paschi di Siena (MI:BMPS)'s top shareholder, U.S.-based investment firm Fintech Advisory, is not selling down its 4.5 percent stake in the bank, a source close to Fintech told Reuters on Wednesday.
Shares in the Italian lender have been bearing the brunt of market losses since the beginning of the year, and one local newspaper on Wednesday reported rumours that Fintech may be selling.
The source said those rumours were unfounded, adding that Fintech, which is controlled by Mexican billionaire David Martinez, had an unchanged 4.5 percent holding in the Tuscan bank.
"We are not selling," the source said, speaking on condition of anonymity.
Monte dei Paschi shares closed up 1.6 percent at 0.9430 euros on Wednesday.
