BlackRock backs out of Carige recap, raising bailout fears

By Aidan Gregory
09 May 2019

US fund manager BlackRock has pulled the plug on a rescue deal for ailing Italian bank Carige, setting the stage for a difficult political argument over whether to approve yet another costly government bailout.

In a statement on Thursday, Genoa-based Carige said that BlackRock had decided not to pursue its initial expression of interest further. It declined to give a reason.

Carige added that it is exploring alternative market solutions and may apply to the Ministry of Economy for a precautionary recapitalisation. ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.