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Italy PM says nationalisation not on the agenda for Carige bank

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By Shoaib Ur RehmanReuters

SIBIU, ROMANIA: Prime Minister Giuseppe Conte said on Thursday there were no plans to nationalise ailing Italian bank Carige, adding that a market solution to save the lender had to be found instead.

US fund manager BlackRock said earlier on Thursday that it had pulled out of a proposed rescue of the Genoa-based bank, a move that could push the Italian government into another costly state bailout.

"Nationalisation is not on the agenda," Conte told reporters at a gathering of European Union leaders in the Romanian town of Sibiu.

He added that "all the conditions are present" to find an alternative investor to BlackRock.

Copyright Reuters, 2019

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