Monday, October 6, 2008
Another domino about to topple?
One of Italy’s largest banks outlined its plans for survival last night as UniCredit said that it was seeking up to €6.6 billion in fresh funds. The bank, Italy’s second-largest with operations throughout mainland and Eastern Europe, announced a scheme to sell 973 million shares at €3.083 a share. The bank’s stock, which has been halted several times in recent weeks after extreme price falls, closed on Friday at €3.092.