November 16, 2017 / 7:47 AM / a year ago

Italy's Carige says conditions not met to create consortium to guarantee cash call

MILAN, Nov 16 (Reuters) - Italian lender Banca Carige said on Thursday the conditions had not been fully met to create the consortium to guarantee its planned 560 million euro ($659 million) capital increase.

The bank said its chief executive would be assessing in the next few hours whether the lender’s restructuring plan could be taken forward and if a delay in the cash call was possible.

An extraordinary board meeting has been called for Thursday morning at 0930 CET to decide on the next steps, it said.

$1 = 0.8492 euros Reporting by Stephen Jewkes; editing by Agnieszka Flak

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