Popolare bites Eu2bn bullet for Basel

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Popolare bites Eu2bn bullet for Basel

Italy’s Banco Popolare secured a hard underwriting commitment from five banks for a Eu2bn capital increase likely to be launched early next year, the bank said on Sunday night. Investors reacted positively to the news, marking the shares down just close to 4% despite the near-doubling of the issuer’s share capital the deal will entail.

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