UniCredit exec says upbeat about capital increase
Reuters
Published Feb 08, 2017 17:29
Updated Feb 08, 2017 17:40
UniCredit exec says upbeat about capital increase
MILAN (Reuters) - Italy's biggest bank by assets is upbeat about a record 13 billion-euro ($13.91 billion) share sale launched this week, the bank's head of strategy said on Wednesday.
The cash call, the biggest in Europe since 2010, is seen as a key test of investor confidence in Italy's battered banking sector, coming just weeks after Monte dei Paschi di Siena (MI:BMPS) had to be rescued by the state.
The share issue kicked off against a shaky backdrop on Monday, when banking shares were hit by a spike in the spread between Italian and German 10-year government bonds.
"If you look at the last two days, the market prices are very good. We are serene," Marina Natale told reporters.
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Written By: Reuters
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