April 11, 2019 / 10:02 AM / 2 months ago

ECB extends deadline for binding bids for Italy's Carige to mid-May - sources

MILAN, April 11 (Reuters) - The European Central Bank has pushed back a deadline to submit binding bids for troubled Italian lender Carige to mid-May so as to give a specialist fund run by BlackRock more time, two sources familiar with the matter said.

The BlackRock fund has remained as the only buyer still known to be considering a bid. One of the sources said it needed more time to study a possible offer, given all the moving parts involved.

Carige was placed under special administration at the start of the year after its top investor blocked a planned capital raising, derailing an industry-financed rescue plan.

The ECB has extended by six weeks an original April 5 deadline, one source said. The first source said there was no set deadline but “a process made up of several steps which is expected to conclude in the first part of May.” (Reporting by Elvira Pollina and Andrea Mandala, editing by Valentina Za)

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