In a surprise move, BlackRock rejects Carige's bailout plan and sends back to hell the Genoese bank that hoped to have found its white knight in the American giant.
Yesterday the Investment Committee of BlackRock, which was supposed to examine the bailout plan, surprisingly rejected the operation which envisaged a commitment of 400 million from the American side as well as guarantees for the capital increase of 720 million. There are currently no official statements or explanations but it goes without saying that the nightmares of bankruptcy have started again for the Ligurian bank.
Perhaps the Investment Committee deemed Carige's financial commitment excessive and preferred to stop everything before the die was cast. Now it will be necessary to understand whether the operation has definitively ended or if, with adequate adjustments, the rescue of the Ligurian bank will return to the American giant's radar.
BlackRock should have presented its bailout plan to the ECB on May 17 and then convened the Ligurian bank's shareholders' meeting in early summer. Now everything goes back to the high seas.
