A PYMNTS Company

Italy: Minister concerned about 4 rescued banks

By  |  October 3, 2016

Italy’s economy minister has called a meeting with some of the country’s top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Il Messaggero newspaper reported over the weekend that the European Central Bank had rejected a plan put forward by UBI Banca to buy three of the four banks — Banca Marche, Banca Etruria and CariChieti.

    The paper said the ECB was demanding that UBI should raise 600 million euros in fresh capital if it wanted to pursue the deal. UBI was only prepared to raise a maximum 400 million euros, the paper added in its unsourced article.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.