Banca Italease’s main shareholder Banco
Popolare (BP) is the first Italian bank to ask for the government
help.
Popolare (BP) is the first Italian bank to ask for the government
help.
BP said on Tuesday that is will sell €1.45
billion of convertible bonds to the government “to ensure adequate
capital to the group”.
billion of convertible bonds to the government “to ensure adequate
capital to the group”.
Analysts have said that the bank is likely to use the money to
help save Banca Italease, of which it owns 30 percent.
A solution for Banca Italease, with the possibility of a
delisting, is expected to emerge within days.
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The lessor said in a statement that its board of directors will
meet on Friday to discuss the group’s credit quality, and the
predicted effects on shareholders’ equity.
