Delfin Cleared to Nearly Double Stake in Monte dei Paschi

The European Central Bank has granted Delfin, the holding company of the Del Vecchio family, authorization to acquire a stake of up to 19.99% in Banca Monte dei Paschi di Siena, according to financial sources. The approval was reportedly issued on August 12. Delfin currently holds a 9.9% stake in the Siena-based bank.