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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