The plan involves the sale of some of the two banks' businesses to Intesa Sanpaolo, Italy's top retail bank, for a token price.
(Reporting by Silvia Aloisi)
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5-day change | 1st Jan Change | ||
3.524 EUR | +0.59% | +4.32% | +33.27% |
Apr. 24 | Monrif signs new maneuver with creditor banks | AN |
Apr. 24 | INTESA SANPAOLO : UBS raises price target | CF |
BRUSSELS (Reuters) - The European Commission said on Sunday it had approved an Italian plan to wind down two ailing Veneto-based regional lenders, Banca Popolare di Vicenza and Veneto Banca, with the help of taxpayer money.
The plan involves the sale of some of the two banks' businesses to Intesa Sanpaolo, Italy's top retail bank, for a token price.
(Reporting by Silvia Aloisi)
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