MADRID (Reuters) - Spanish bank Santander (>> Banco Santander, S.A.) on Friday said it was not considering any potential acquisition of Italian lender Banca Montei dei Paschi di Siena (>> Banca Monte dei Paschi di Siena SpA) following press reports mentioning such a possibility earlier in the day. "Banco Santander denies any interest in buying Monte dei Paschi," a spokeswoman for the bank told Reuters. Shares in Monte dei Paschi and other Italian banks plunged earlier this week on concerns over their financial strength. In a bid to reassure investors, the lender said on Friday it would publish preliminary full-year results on Jan. 28 ahead of a Feb. 5 scheduled release. (Reporting by Jesus Aguado, editing by Julien Toyer)
Santander has said that it is not considering any potential move to acquire Banca Monte dei Paschi di Banco Santander, despite some reports suggesting otherwise. Italian banks are currently attempting to find solutions for the huge portfolios of bad loans they currently hold, with some seeking merger or acquisition partners. Reports have suggested that a wave of merger and acquisition activity could help relieve some of the banks' critical concerns.