September 30, 2016 / 9:55 AM / a year ago

EU regulators open to Italy request for more time to sell banks

BRUSSELS (Reuters) - Italy has asked for more time to sell four small savings banks it bailed out last year, the European Commission said on Friday, saying it was open to the request.

The logo of Banca Etruria is seen in downtown Rome, Italy May 10, 2016. REUTERS/Tony Gentile

“The Commission is in close and constructive contacts with the Italian authorities regarding the prolongation of the sale deadline for four Italian bridge banks,” Commission spokesman Ricardo Cardoso said in an email.

“The Commission can see good reasons to accept a postponement,” he said.

Italy promised the European Commission to sell Banca Marche [BNCMH.UL], Banca Etruria, CariFe and CariChieti.

Reporting by Foo Yun Chee, editing by Robin Emmott

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