MILAN Oct 11 Banca Popolare di Vicenza is
readying a proposal to partially reimburse shareholders who lost
part of their investment after the European Central Bank said it
found problems with its balance sheet, the Italian regional
lender said on Tuesday.
"The sum earmarked for the reimbursement will, however, be
capped to respect capital requirements dictated by the ECB," the
bank said in a statement.
Italy's eighth-largest bank was taken over by
state-sponsored fund Atlante in May after it failed to attract
demand for a 1.5-billion-euro ($1.68 billion) initial share
offering needed to avoid being wound down by the ECB.
The value of its shares fell dramatically after the ECB
found holes in its balance sheet. The lender added it would hold
a shareholders meeting to vote on a legal action against
($1 = 0.8928 euros)
(Reporting by Francesca Landini, editing by Steve Scherer)