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Blackrock's plan for Italy's Carige sees higher cash call of 700 mln euros or more

Reuters

MILAN, April 18 () - A plan U.S. asset Blackrock has put forward to salvage troubled Italian lender Carige includes a cash call of 700 million euros ($790.93 million) or more, two Italian newspapers reported on Thursday.

The amount is higher than the 630 million euros the Genoa-based bank has said it needs after reporting a 2018 loss of 273 million euros.

Carige was placed under special administration at the start of the year after the Malacalza family, its top investor, blocked a planned capital raising, derailing an industry-financed rescue plan.

($1 = 0.8850 euros)


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