ECB clears way for vote on Carige’s €900m rescue plan

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By Tyler Davies
20 Aug 2019

The European Central Bank has given Banca Carige the all-clear to try and carry out its latest plans to turn itself around. The ailing Italian lender said on Monday that its next step will be to ask its shareholders for their approval at a meeting next month.

Shareholders will have to decide on September 20 whether they support a proposal to increase Carige’s equity capital by an additional €700m.

The bank is under the stewardship of a team of temporary administrators, selected by the ECB at the beginning of the year.

The administrators have set ...

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