U.S. asset manager BlackRock has pulled out of a proposed rescue of Italian bank...
MILAN - U.S. asset manager BlackRock has pulled out of a proposed rescue of Italian bank Carige, raising the prospect that Rome could be drawn into a costly state bailout.
A BlackRock spokesperson confirmed a report first carried by La Repubblica newspaper but gave no details. BlackRock was the linchpin of the rescue plan which was also backed by Italian banks. But the U.S. fund deemed the investment too risky, among other reasons, a source familiar with the fund’s decision said on Thursday.
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