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Popolare di Vicenza, Veneto Banca close to sell 8-9 billion euros in bad debts-Cerved

Published 02/05/2017, 15:23
Updated 02/05/2017, 15:30
© Reuters. A Banca Popolare di Vicenza sign is seen in Rome
BAMI
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MILAN (Reuters) - Troubled Italian banks Popolare di Vicenza and Veneto Banca are close to finalising the long-mooted sale of 8-9 billion euros in problem loans, the chief executive of bad loan manager Cerved said on Tuesday.

"We expect something to happen shortly," CEO Marco Nespolo said in reference to the two Veneto-based lenders' bad loan sale.

Nespolo also told an analyst call that a consortium comprising a fund he did not name and Cerved had been shortlisted to submit a binding bid for a 700 million euro ($762 million) bad loan sale by Banco BMP (MI:BAMI).

© Reuters. A Banca Popolare di Vicenza sign is seen in Rome

Sources have said Cerved has teamed up with Cerberus in the tender.

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