MILAN, June 16 (Reuters) - French banking group BPCE is set to buy into Banca Carige’s 800 million euro ($1 billion) cash call, which started on Monday, to keep its 10 percent stake in the Italian mid-sized lender unchanged.
BPCE International et Outre-mer (BPCE IOM), the company through which BPCE holds its financial stakes abroad, said in a statement it would exercise all of its rights to buy new Carige shares.
The rights lost 20 percent by 0744 GMT.
BPCE IOM owns 9.989 percent of the Genoa-based bank’s capital according to Carige’s website. ($1 = 0.7345 Euros) (Reporting by Andrea Mandala, writing by Valentina Za)