ECB has given Carige ‘about a month’ to find a market solution: source

FILE PHOTO: The logo of the Carige bank is seen in Rome
FILE PHOTO: The logo of the Carige bank is seen in Rome, Italy September 20, 2018. REUTERS/Max Rossi/File Photo

May 17, 2019

ROME (Reuters) – The European Central Bank has given troubled Italian lender Carige “about a month” to find an alternative buyer after U.S. asset manager BlackRock pulled out of a proposed rescue bid for the lender, a source close to the matter said on Friday.

A second source said the ECB had given temporary administrators running the Genoa-based bank “a few more days” to find a buyer, after a previous May 17 deadline expired without a solution having been found.

(Reported by Stefano Bernabei and Giuseppe Fonte, writing by Andrea Mandala)

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