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Italy scrambles to secure Popolare Vicenza bank rescue

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buy canada goose jacket cheap In the first test for the canada goose vest outlet Atlante fund, the centre piece of canada goose outlet phone number a government orchestrated scheme to avert a wider crisis in the euro zone fourth largest bank sector, mid tier canada goose outlet official lender Popolare di Vicenza is seeking to raise 1.76 billion euros ($2 billion). buy canada goose jacket cheap

canada goose clearance sale Atlante was hastily set up last week by mostly private canada goose https://www.canadagoosejacketsaleca.com outlet in vancouver domestic financial institutions to bail out weaker Italian banks. It has so far had pledges for around 4 billion euros. canada goose clearance sale

uk canada goose Popolare di Vicenza, Italy eighth largest lender, must raise the cash and list on the stock market to plug a capital shortfall revealed by the European Central Bank (ECB) and ward off canada goose outlet vip the threat of being wound down, following big losses. uk canada goose

canada goose store Atlante has committed to fully underwriting its capital increase, which has so far drawn poor investor demand and is expected by some analysts to end up with unsold shares totalling no less than 1 billion euros. canada goose store

canadian goose jacket EXCEPTIONS TO RULES canada goose outlet florida Popolare di Vicenza said on Wednesday the fund would buy unsold shares at 0.10 euros each, at the bottom end of canada goose outlet 80 off a 0.10 canada goose stockists uk 3 euros price range given by the bank for its initial public offer on Tuesday. At that price, canada goose jacket uk a 1 billion euro investment would give canadain rx. the fund a stake in the bank of around 66 canada goose outlet washington dc percent. canadian goose jacket

canada goose coats However, the bank said the fund would only step in if it did not have to launch a mandatory bid for the whole bank, which under Italian rules an investor must do if its stake in a company tops 25 percent. canada goose coats

Canada Goose Jackets A further condition of Atlante underwriting commitment, Popolare di Vicenza said, was that the bank had sufficient free float to list on the Milan canada goose outlet canada bourse a threshold normally set at a minimum of 25 percent of a company share capital. Canada Goose Jackets

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Canada Goose Outlet But the conditions set by Atlante mean the cash call would need to attract at least 300 to 400 million euros from other investors so that the new fund does not end up with canada goose outlet legit a stake of more than 75 80 percent and the market listing can go ahead. Canada Goose Outlet

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canada goose uk shop Popolare di Vicenza CEO Francesco Iorio told Il Sole 24 Ore newspaper on Wednesday canada goose outlet online store review the possibility that the bank free float canada goose outlet los angeles may not reach 25 percent was but we are taking it into consideration. canada goose uk shop

canada goose uk outlet The bank said on Tuesday canada goose outlet locations in toronto the unusually wide price range for the share sale was due to the fact that the pre marketing phase was too weak to be more precise. canada goose uk outlet

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canada goose factory sale Global coordinators for the share sale are UniCredit, Deutsche Bank, JP Morgan, Mediobanca and BNP Paribas. (Additional reporting by Andrea Mandala; Editing by Alexander Smith) canada goose factory sale.

4 июня 2014 - Сергей Ермилов - 0 - Новости / Просмотров: 147