Deutsche Bank says Italy investigating deals with Monte dei Paschi
FRANKFURT (Reuters) - The Milan public prosecutor is investigating past derivatives deals Deutsche Bank conducted with Banca Monte dei Paschi di Siena , Deutsche Bank said in a statement on Wednesday.
"The Milan Public Prosecutor has an ongoing investigation that includes transactions we entered into in 2008 with Banca Monte dei Paschi di Siena," Deutsche Bank said in statement. "We are cooperating with these investigations."
In late 2013, MPS reached a deal to close a loss-making derivative trade with Deutsche Bank, leading to a one-off charge of 194 million euros (£139.08 million) on the Italian bank's 2013 accounts.
The 2008 deal, known as Santorini, is one of three derivative trades at the heart of a judicial probe into alleged fraud at Italy's third-biggest lender. Those trades forced Monte dei Paschi to take a hit of 730 million euros on its 2012 accounts.
(Reporting by Thomas Atkins; Editing by Maria Sheahan)
