October 7, 2016 / 11:34 AM / a year ago

EU authorises Italy to extend deadline for sale of four banks

ROME (Reuters) - The European Commission said on Friday it had authorised an extension of the process for sale of the four small Italian banks Nuova Banca Marche, Nuova Banca Etruria, Nuova Carife and Nuova Carichieti that were rescued from bankruptcy last year.

The Commission’s statement confirmed earlier remarks by an Italian Treasury source, who said Brussels had agreed to extend the deadline for the sale of the four lenders.

An original deadline had already been extended to Sept. 30.

Reporting by Stefano Bernabei, writing by Gavin Jones

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