GENOA, Italy, April 30 The banking foundation
that is top shareholder in Banca Carige is awaiting
clearance from Italy's Treasury to cut its stake to 19 percent
from 43.4 percent at present, the chairman of the not-for-profit
entity said on Wednesday.
The Carige foundation until recently controlled more than 46
percent of the Genoa-based lender but is seeking to reduce its
holding ahead of an 800 million euro rights issue because it has
no money to invest in it.
Foundation Chairman Paolo Momigliano said on Wednesday that
a request to lower the stake to as little as 19 percent had been
submitted to the Treasury about 20 days ago.
"I believe that within 15 days we will begin to get near to
a solution (on the stake sale)," Momigliano told reporters on
the sidelines of a shareholder meeting.
Earlier this year the foundation forced the bank to delay
the much-needed share sale to June as it looks for friendly
investors to sell part of its holding to.
Asked about possible co-investors in the bank, Momigliano
said: "The adviser is at work. When it comes up with names we'll
(Reporting by Andrea Mandal, writing by Valentina Za, editing
by Stephen Jewkes)