Banca Popolare Di Spoleto SpA logo

SPO - Banca Popolare Di Spoleto SpA News Story

€1.79 0.0  0.0%

Last Trade - 18/09/13

Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £130.4m
Position in Universe th / 721

Judge drops probe into Bank of Italy governor in Spoleto case

Tue 20th September, 2016 10:50am
MILAN, Sept 20 (Reuters) - An Italian judge has dropped an 
investigation of the governor of the Bank of Italy and seven 
other officials over the collapse and sale of Banca Popolare di 
Spoleto (BPS), a court document said on Tuesday. 
    The document, seen by Reuters, said no elements had emerged 
to back up the allegations. 
    Prosecutors investigating Bank of Italy Governor Ignazio 
Visco and the other seven for possible fraud and corruption had 
asked for the probe, which began last year, to be shelved.*:nL8N12L3Y7 
    The Bank of Italy had requested that BPS be put under 
special administration in February 2013 after an inspection the 
previous year found serious irregularities and large capital 
losses at the small lender. 
    The central bank then picked another small Italian bank, 
Banco di Desio e della Brianza  DESI.MI , to take over BPS by 
buying a majority stake through a share issue reserved for Banca 
Desio, which now owns 81.7 percent of BPS. 
    The operation drastically reduced the value of other stakes 
in BPS, and a lawyer representing around 100 minority 
shareholders took their case to the prosecutors, arguing the 
Bank of Italy had refused a better offer for BPS from a 
different bidder.   
 (Reporting by Luca Trogni) 
 ((; +39 02 6612 9723; Reuters 
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.