MILAN, June 15 Italy's Unipol is ready
to contribute to a state bailout of ailing regional banks
Popolare di Vicenza and Veneto Banca if other financial
institutions do the same, the head of the insurance group said
The EU Commission has requested a 1.25 billion euro ($1.4
billion) private contribution to cover incurred losses at the
two Veneto-based banks before authorising the disbursement of
public money to save the two lenders.
So far, only a few financial institutions led by
heavyweights Intesa Sanpaolo and UniCredit
have signalled a willingness to once again come to the rescue of
the two lenders.
Unipol CEO Carlo Cimbri told journalists on the sidelines of
an event that the group would be ready to take part if the
private contribution was shared proportionally among all main
Italian financial institutions.
($1 = 0.8961 euros)
(Reporting by Andrea Mandala, writing by Valentina Za; Editing
by Crispian Balmer)