Shares in Banca Carige jump amid Malacalza investment

Businessman tells La Stampa 'possibility' of greater stake

(ANSA) - Rome, March 2 - Shares in Banca Carige rose by more than 11% in trading Monday on Milan's stock exchange amid reports the Malacalza family could increase its stake by as much as 24%.
    Vittorio Malacalza, a powerful Italian businessman, said in a published report earlier in the day that his family business group took at 10.5% stake in the Genoa-based bank "for the good of the bank and the city".
    He also told La Stampa that "it is a possibility" that the Malacalza group stake could increase to 24%, giving it control over the bank that has been struggling to boost capital reserves since a major review by the European Central Bank late last year found it wanting.
    The bank is trying now to raise 700 million euros to fill capital reserves to the levels required by the ECB.
    Meanwhile, Carige President Cesare Castelbarco Albani said that the Malacalza investment will give the bank a significant boost.
    "The contribution of their considerable business skills will be crucial for the future development of the Banca Carige," said Castelbarco Albani.


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