Deals
Italian Banks Rise as Officials, Executives Discuss Fund
- Vehicle that would support bank IPOs may be worth EU5 billion
- Bank shares extend gains, paced by Monte dei Paschi, UniCredit
Italian Banks Seek Unified Private Funding Solution
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Italian bank executives met with treasury and central bank representatives as officials sought to hammer out an agreement to create a fund supporting troubled lenders planning to raise capital.
Officials and leaders of banks including UniCredit SpA and Intesa Sanpaolo SpA are seeking to finalize a plan to set up a vehicle that would help cooperative lenders in sales of shares and bad debt. The fund would be financed by banks and privately held institutions, with a small stake held by state lender Cassa Depositi e Prestiti.