May 14, 2019 / 5:55 AM / in 2 months

Intesa CEO says Carige needs private or public partner to take control-paper

MILAN, May 14 (Reuters) - A rescue of Carige by a depositor protection fund backed by Italian lenders can only be a short-term solution for the ailing lender, which needs either the state or a rival to take control, the head of Italy’s top retail bank was quoted as saying.

“A clear governance setup is necessary, free from conflicts of interest. Carige certainly cannot become a bank owned by the (FITD) depositor guarantee fund,” Carlo Messina said in an interview with la Repubblica on Tuesday.

“If the FITD fund were to intervene it would only be a temporary solution, then a strategic partner owning 51 percent is needed. If it’s private that’s good, otherwise also public, like in Germany or Britain.” (Reporting by Valentina Za; Editing by Kim Coghill)

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