Monte Paschi approves plan to offload over 8 billion euros of bad loans
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MILAN (Reuters) - Italy's Banca Monte dei Paschi di Siena approved a plan on Monday to offload more than 8 billion euros ($9 billion)in gross bad loans in a move that could pave the way for a possible re-privatisation of the lender.The Tuscan bank said in a statement the deal with state-owned bad loan manager AMCO included spinning off a package of gross bad loans worth 4.8 billion euros and unlikely-to-pay loans worth 3.3 billion euros.It also included more than 1 billion euros in equity and..