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UPDATE 2-Monte Paschi faces $1 bln loss on 'surprise' trades
Posted on January 24, 2013 at 06:27 AM EST
MILAN, Jan 24- Banca Monte dei Paschi di Siena, Italy's third biggest bank, revealed on Thursday it could face losses of as much as 720 million euros on past trades in financial derivatives which new management only recently discovered.
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