November 11, 2019 / 2:11 PM / a month ago

EU gives green light at working level for NordLB rescue plan - sources

BERLIN, Nov 11 (Reuters) - The European Union has given its green light at working level for a rescue plan for ailing German lender NordLB, two sources told Reuters on Monday.

The EU experts view the recapitalisation plan for NordLB not as state aid and see it as in line with the bloc’s competition rules, two people familiar with the decision said, adding that the European Commission will have the final say on the plan.

A NordLB spokesman declined to comment. (Reporting by Klaus Lauer and Michael Nienaber Editing by Paul Carrel)

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