September 20, 2019 / 2:39 PM / 25 days ago

Carige shareholders approve rescue plan

FILE PHOTO: The Carige bank logo on a building in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini/File Photo

GENOA, Italy (Reuters) - Shareholders in Italy’s Carige (CRGI.MI) approved on Friday a 700 million euro ($771 million) cash call needed to save the lender from liquidation.

The capital increase is a part of a 900 million euro rescue package financed mostly by rival Italian banks.

Carige temporary administrator Raffaele Lener said shareholders had approved the capital raising - the bank’s fourth cash call since 2014 - with 91% of votes.

Reporting by Andrea Mandala, editing by Valentina Za

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