MILAN - European Union competition authorities will have no reason to object to Italy’s rescue of ailing cooperative lender Popolare di Bari, the country’s regional affairs minister said on Monday.
Minister Francesco Boccia told Radio 24 the scheme had been devised in a way that would ensure compliance with EU state aid rules. EU competition authorities did not immediately respond to a request for comment on the plan on Monday. The latest government plan envisages an injection of up to 900 million euros into state-owned Banca del Mezzogiorno-Mediocredito Centrale so that it can buy into a cash call at Popolare di Bari.
The steering committee of the FITD fund is due to meet on Wednesday to discuss Popolare di Bari’s rescue.
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The point is how to avoid those bad admins.
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