March 6, 2018 / 7:46 PM / 7 months ago

Italy's Carige rejects new shareholder's request for a board seat

MILAN, March 6 (Reuters) - Italy’s Banca Carige said on Tuesday its board could not grant new investor Raffaele Mincione the seat he had requested, but pledged to work in the interest of all stakeholders.

Mincione holds a 5.428 stake in the regional lender.

Carige also said it estimated that the new IFRS9 accounting rule - which forces banks to book expected, and no longer actual, losses - would lead to around 360 million euros in writedowns, shaving 2.1 percentage points off its best-quality capital. (Reporting by Valentina Za, editing by Giulia Segreti)

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