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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.

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

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