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Banking fund FITD rejects private equity's rescue plan for Carige

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Banking fund FITD rejects private equity's rescue plan for Carige
FILE PHOTO: The Carige bank logo is seen in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini   -   Copyright  Stefano Rellandini(Reuters)
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ROME (Reuters) – Italy’s banking fund FITD said on Monday it had rejected a rescue plan presented by a private equity fund for ailing lender Banca Carige.

FITD added in statement it was ready to consider alternative solutions involving the bank’s current shareholders and other private or public investors.

Carige, which was placed under special administration by the European Central Bank in January, has a capital shortfall of 630 million euros (563 million pounds).

(Reporting by Stefano Bernabei, writing by Giselda Vagnoni, editing by Giulio Piovaccari)

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