JP­Mor­gan de­nies plan to buy Italy’s BMPS

The Myanmar Times - - International Business -

US bank JP­Mor­gan Chase has de­nied that it ever in­tended to buy trou­bled Ital­ian ri­val BMPS, as peo­ple close to the al­leged deal had re­ported. “This is not ac­cu­rate and was never un­der con­sid­er­a­tion,” a JP­Mor­gan spokesper­son told AFP.

Sources who asked to re­main anony­mous had in­di­cated that Jamie Di­mon, chief ex­ec­u­tive of the largest US bank by as­sets, and Daniel Pinto, the Lon­don­based head of JP­Mor­gan’s in­vest­ment and fi­nance de­part­ment, were be­hind the plan to bail out the Banca Monte Paschi di Siena un­veiled last week.

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