UPDATE 1-Monte Paschi sells Fiat stake to Goldman, JP Morgan

Newswire

(Adds details) MILAN/LONDON, Jan 20 (Reuters) - Italian bank Monte dei Paschi di Siena said on Friday it had sold its 2.5 percent stake in carmaker Fiat to Goldman Sachs and JP Morgan in block trades. Monte Paschi -- which came to own the shares after creditor banks converted a 3 billion euro ($3.63 billion) loan to Fiat last year -- said in a statement it had sold the 29 million ordinary shares, or 2.5 percent of Fiat's total share capital, after the market close on Thursday. Earlier ...

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