The EU Commission has authorized the extension of the sale process of the four bridge banks Nuova Banca Marche, Nuova Banca Etruria, Nuova Carife and Nuova Carichieti. The European executive itself gave the news, officially confirming the announcement of the decision a few days ago.
As already indicated by the European Antitrust spokesman, Brussels has not indicated any deadline by which the sale process must be concluded. In reality there is a deadline, but the Commission does not reveal it: “To protect the effectiveness of the sales process, remain confidential”.
The sale, underlines the Commission in a note, "has the purpose of maximizing the value of the 4 bridge banks, consequently minimizing costs for taxpayers and ensuring that new state aid will not be necessary".
Meanwhile, according to rumors reported by Il Sole 24 Ore, the fund Atlas is studying the possibility of intervening on the Good banks dossier, perhaps in tandem with Ubi, as known, or with the fund Apollo.
This second road has opened up the criticisms of the ECB on certain conditions imposed by Ubi regarding badwill, internal models and tax credits. Furthermore, Apollo had already come forward in the summer with an offer considered inadmissible at the time.
The four bridge banks, chaired by Roberto Nicastro, were created in November 2015, when the Bank of Italy (national resolution authority) placed Banca delle Marche, Banca Popolare dell'Etruria e del Lazio, Cassa di Risparmio di Ferrara under resolution and Cassa di Risparmio of the Province of Chieti. Brussels then approved state aid to cover the difference between the transferred assets and liabilities and to capitalize the bridge banks, as well as additional public aid in the form of guarantees.
