Senior Italian Bankers to Meet Monday over Sale of Four Banks: Sources

Italy’s economy minister has called a meeting with some of the country’s top bankers on Monday to discuss stalled efforts to sell four small banks that were rescued from bankruptcy last year, sources said.

Bank of Italy Governor Ignazio Visco was expected to join the gathering, which comes just days after sources said the European Union had agreed to extend a Sept. 30 deadline for the sale of the troubled lenders.

Il Messaggero newspaper reported at the weekend that the European Central Bank had rejected a plan put forward by UBI Banca to buy three of the four banks — Banca Marche, Banca Etruria and CariChieti.

Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam