Bank of Italy sees alternatives if sale of rescued banks flops

Bank of Italy sees alternatives if sale of rescued banks flops
 

The Bank of Italy is confident there are alternatives to liquidation for four Italian banks rescued from bankruptcy last year if their planned sale falls through, its Director General Salvatore Rossi said on Tuesday.
A European Union deadline of Sept. 30 for the sale of the troubled banks was extended last week, but UBI Banca's (UBI.MI) move to buy three of them has not yet been approved by the European Central Bank (ECB).
Asked whether there was an alternative to liquidation if Italy failed to find a buyer by the new deadline, Rossi said: "There are possibilities and instruments to... read more

 
4 October 2016 in Business, Views: 35
Source: Reuters
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