BREAKING NEWS

BREAKING NEWS

ECB has given Carige 'about a month' to find a market solution - source

ECB has given Carige 'about a month' to find a market solution - source
FILE PHOTO: The logo of Carige bank is seen in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi/File Photo -
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Alessandro Bianchi(Reuters)
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ROME (Reuters) - The European Central Bank has given troubled Italian lender Carige "about a month" to find an alternative buyer after U.S. asset manager BlackRock pulled out of a proposed rescue bid for the lender, a source close to the matter said on Friday.

A second source said the ECB had given temporary administrators running the Genoa-based bank "a few more days" to find a buyer, after a previous May 17 deadline expired without a solution having been found.

(Reported by Stefano Bernabei and Giuseppe Fonte, writing by Andrea Mandala)

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