Carige shareholders approve rescue plan

FILE PHOTO: The Carige bank logo on a building in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini/File Photo September 20, 2019
GENOA, Italy (Reuters) – Shareholders in Italy’s Carige <CRGI.MI> approved on Friday a 700 million euro ($771 million) cash call needed to save the lender from liquidation.
The capital increase is a part of a 900 million euro rescue package financed mostly by rival Italian banks.
Carige temporary administrator Raffaele Lener said shareholders had approved the capital raising – the bank’s fourth cash call since 2014 – with 91% of votes.

(Reporting by Andrea Mandala, editing by Valentina Za)

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