May 23, 2014 / 8:37 AM / 4 years ago

UniCredit awaits binding offers in next few weeks for UCCMB unit

MILAN, May 23 (Reuters) - Unicredit expects to receive within a few weeks binding offers for the debt collection unit that Italy’s biggest bank by assets has put for sale at it tackles its large stock of soured loans.

“We’re in line with our internal timetable for the sale of the asset. We’re at a point where we should get in a few weeks the first binding offers,” CEO Federico Ghizzoni said on the sidelines of a conference.

He reiterated that UniCredit aims to seal the sale of its UCCMB impaired loan management unit by the end of the year.

The bank is trying to sell off a pool of bad loans together with a majority stake in Verona-based UCCMB. (Reporting by Andrea Mandala, writing by Valentina Za, Editing by Lisa Jucca)

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