December 20, 2017 / 10:14 AM / in a year

Unicredit ex-CEO says Renzi ally asked him to consider buying Banca Etruria

ROME, Dec 20 (Reuters) - The former chief of Unicredit said on Tuesday that a close ally of former Prime Minister Matteo Renzi had asked him in 2014 about the possibility of his bank buying the troubled smaller lender, Banca Etruria, where her father worked.

The remarks by Federico Ghizzoni to a parlaimentary commission are likely to cause embarrassment to Renzi and the Democratic Party he leads.

Ghizzoni said cabinet undersecretary Maria Elena Boschi had asked him in a one-to-one meeting “if it was possible for Unicredit to consider buying or intervening in Etruria”.

Boschi, whose father was on the board of the struggling lender, had previously denied making any such request. (Reporting by Gavin Jones)

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