MILAN (Reuters) – Shareholders in state-owned Monte dei Paschi di Siena (MPS) on Thursday approved a 2.5 billion euro ($2.5 billion) cash call.

Here is a timeline of key events in the recent history of MPS, whose origins can be traced back to the 15th century.

NOVEMBER 2007 – MPS buys Antonveneta from Santander for 9 billion euros in cash, just months after the Spanish bank paid 6.6 billion euros for it.

JANUARY 2008 – MPS announces a 5 billion euros rights issue, a 950 million euro capital increase reserved to JPMorgan, a 2.16 billion euro Tier2 bond and a 1.56 billion euro bridge loan to fund the Antonveneta deal.

MARCH 2009 – MPS sells 1.9 billion euros in special bonds to Italy’s Treasury to shore up its finances.

JULY 2011 – MPS raises 2.15 billion euros in a rights issue ahead of European stress test results.

SEPTEMBER 2011 – The Bank of Italy provides 6 billion euros in emergency liquidity to MPS as the euro zone sovereign crisis escalates.

MARCH 2012 – MPS posts a 4.7 billion euro 2011 loss after billions of goodwill writedowns on deals including Antonveneta.

JUNE 2012 – MPS asks Italy’s Treasury to underwrite up to another 2 billion euros in special bonds.

OCTOBER 2012 – Shareholders approve a 1 billion euro share issue targeting new investors.

MARCH 2013 – MPS loses 3.17 billion euros in 2012, hit by plunging Italian government bond prices.

JUNE 2014 – MPS raises 5 billion euros in a rights issue and repays the state 3.1 billion euros.

OCTOBER 2014 – MPS emerges as the worst performer in Europe-wide stress tests.

JUNE 2015 – MPS raises 3 billion euros in cash after a 5.3 billion euro net loss for 2014 on record bad loan writedowns. It repays the remaining 1.1 billion euro state underwritten special bond.

JULY 2016 – MPS announces a new 5 billion euro rights issue and plans to offload 28 billion euros in bad loans after European bank stress tests.

DECEMBER 2016 – MPS turns to the state for help under a precautionary recapitalisation scheme after its cash call fails.

JULY 2017 – After the ECB declares MPS solvent, the EU Commission clears an 8.2 billion euro bailout which hands the state a 68% stake at a cost of 5.4 billion.

OCTOBER 2019 – MPS completes Europe’s biggest bad loan securitisation deal.

AUGUST 2020 – Italy sets aside 1.5 billion euros to help MPS as it works to meet an end-2021 re-privatisation deadline.

FEBRUARY 2021 – MPS posts 1.69 billion euro loss for 2020 as it opens its books to potential buyers.

JULY 2021 – UniCredit enters exclusive talks to buy “selected parts” of MPS, a day before European banking stress test results show the latter’s capital would be wiped out in a slump.

OCTOBER 2021 – Talks with UniCredit collapse.

JUNE 2022 – MPS announces a 2.5 billion euro capital increase for end-October and secures a pre-underwriting accord with banks.

(Reporting by Valentina Za;Editing by Elaine Hardcastle)

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