Top Monte Paschi shareholder sells 1.4 pct stake in the bank

MILAN, Oct 1 (Reuters) - The main shareholder of Banca Montedei Paschi di Siena said on Monday it had sold on themarket a 1.41 percent stake in the world's oldest bank.

Monte Paschi, the country's third-biggest lender, was forcedto request state aid in June to plug a capital shortfall andmeet tougher European requirements.

The Monte Paschi Foundation is reducing its majority stakein the bank to let other investors' enter the capital.

Earlier this year the foundation cut its stake in the bankto 36.3 percent from 49 percent this year to repay creditors.

Last month, the foundation denied a media report suggestingit may sell all of its stake but said it was ready to sellanother 2.8 percent if conditions were right.

(Reporting by Antonella Ciancio)

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Keywords: MONTEPASCHI/