July 24, 2019 / 4:06 PM / a month ago

Italian banks reach preliminary deal with CCB to save Carige: sources

The Carige bank logo is seen in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini

ROME/MILAN (Reuters) - Italian banks have reached a framework agreement with small cooperative lender Cassa Centrale Banca (CCB) to rescue ailing Banca Carige (CRGI.MI), two sources told Reuters on Wednesday.

The two sides hammered out an agreement to fully subscribe a 700-million-euro ($780 million) rights issue for Carige but are still in talks over details of the broader rescue plan.

One of the sources said a CCB board meeting on Carige was still ongoing.

Reporting by Stefano Bernabei and Andrea Mandala; writing by Juliette Jabkhiro; editing by

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