Fondiaria, Unipol shares fail to open on cap hike delay
MILAN, July 9 |
MILAN, July 9 (Reuters) - Shares in Italian insurers Unipol and Fondiaria-SAI failed to open on Monday on concerns about the progress of Unipol's planned rescue of its troubled peer.
Unipol suffered a further setback in its efforts to take over Fondiaria when market watchdog Consob refused on Friday to approve rights issues due to be launched on Monday.
Consob is likely to give its go-ahead on Wednesday or Thursday so that the capital increases could be launched on Monday July 16, several newspapers reported on Saturday.
Il Sole 24 Ore said on Sunday that Unipol and Fondiaria may extend a deadline for their exclusive talks and Fondiaria's parent Premafin may get more time from its creditor banks to account fot the delayed launch of the capital increases. (Reporting by Antonella Ciancio)
- Tweet this
- Share this
- Digg this