January 2, 2019 / 3:53 PM / 6 months ago

Italy's Carige administrator says no merger in sight for bank - TV

FILE PHOTO: A man rides a bicycle past a Carige bank in Rome, Italy September 20, 2018. REUTERS/Max Rossi/File Photo

MILAN (Reuters) - One of the temporary administrators of troubled Italian lender Banca Carige (CRGI.MI) said on Wednesday there was no merger on the horizon for the bank.

“There is nothing in sight,” Pietro Modiano said in an interview with Italian state TV Rai.

The European Central Bank appointed three temporary administrators on Wednesday to take charge of Carige in an effort to save it after it failed to raise new capital.

Reporting by Stephen Jewkes; editing by Agnieszka Flak

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