Italease needs to raise 400-800 mln eur in capital hike - report |
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Published
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Thu, 12 Jul 2007 08:23
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MILAN (Thomson Financial) - Banca Italease SpA needs a capital hike of between 400 and 800 mln eur to resolve its deteriorated financial situation and fund further growth, daily La Repubblica said, without identifying its sources.Italease's shareholders and directors are expected to examine the bank's situation tomorrow, but the decision on the capital hike and the possible entrance of new shareholder should be taken on July 27, it added.According to the newspaper, several Italian and foreign investors have expressed their interest in buying a stake in the company.Tomorrow, Italease is likely to appoint an advisor to shortlist candidates for a stake of no more than 10 pct, it said.Italease recently said it has closed out four-fifths of its mark-to-market derivative positions with bank counterparties for a total outlay of 610 mln eur, while open positions were a negative mark-to-market of about 120 mln.danilo.masoni@thomson.comdm/jagCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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