The European Commission said Tuesday
that it has approved the sale of three of the four 'good banks'
left over from a government wind-down of their previously
insolvent versions to UBI.
"The European Commission has approved under EU state aid
rules the sale of three Italian bridge banks Nuova Banca Marche,
Nuova Banca Etruria and Nuova Carichieti to Unione di Banche
Italiane (UBI Banca)," the EU executive said.
The four banks' collapse in late 2015 left bondholders
holding worthless paper.
One bondholder killed himself after losing his life savings.
Many are still awaiting compensation.
BPER has bought the fourth bank, Nuova CariFerrara.
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