Italy court acquits three former Monte dei Paschi managers in derivatives case

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FLORENCE, Italy, Dec 7 (Reuters) - An Italian court acquitted on Thursday three former managers of Monte dei Paschi di Siena of obstructing regulators and misleading authorities in relation to a 2009 derivative trade that prosecutors said was used to conceal losses.

The appeals court in Florence, near the home town of Italy's fourth-biggest lender, scrapped sentences handed down by a lower court for former chairman Giuseppe Mussari, ex-chief executive Antonio Vigni and one-time finance boss Gianluca Baldassari.

The previous ruling had called for jail terms of three years and six months for each of the men, for allegedly hiding a document relating to the transaction with Japanese bank Nomura.

The appeals court said on Thursday that what had happened did not constitute a crime.

This article appears in: Politics , World Markets , Stocks , Economy
Referenced Symbols: BMPS

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