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Banca Carige share issue may not be necessary, administrator says

Jan 08, 2019 - SNL European Financials Daily

A share issue by struggling Italian lender Banca Carige SpA might not be necessary if it immediately finds a merger partner or if the bank's special administrators manage to restructure it more efficiently, Reuters reported Jan. 7, citing a statement by Raffaele Lener, one of Carige's administrators, to La Repubblica's Affari & Finanza.

The search for a partner for Carige would take at least six months, Corriere della Sera reported Jan. 6. The Italian treasury's bad bank is reportedly in t...