Monte dei Paschi shares drop on reports of new probe into Italy bailout conditions
) slumped by more than 7% on Wednesday on media reports that a judge has asked prosecutors in Milan to investigate allegations of fraud surrounding the lender's 2017 rescue.
In 2017, Italy used a so-called precautionary recapitalization process, which, under European Union law, places losses on Monte dei Paschi's junior bondholders, to shovel 5.4 billion euros into Monte dei Paschi.
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