Monte Paschi says closing Alexandria trade to cause 1 billion euro gross loss: letter

MILAN/SIENA (Reuters) - Monte dei Paschi di Siena said the closure of a derivatives contract with Nomura by end-July, as requested by the European Central Bank, could trigger a pre-tax loss of around 1 billion euros ($1 billion), according to a letter from the bank to prosecutors.

from Reuters: Business News http://ift.tt/1OhBmkG