Bloomberg News

UniCredit Investors Support Rights Offering, Chief Tells Stampa

December 15, 2011

Dec. 15 (Bloomberg) -- UniCredit SpA investors will support its 7.5 billion-euro rights offering, Chief Executive Officer Federico Ghizzoni told daily La Stampa in an interview.

The bank doesn’t need to transfer capital to its eastern European businesses, Ghizzoni said. Capital rules proposed by the European Banking Authority will force banks to limit the amount they lend at a time when they should be giving more credit, the CEO said.

To contact the editor responsible for this story: Dan Liefgreen at dliefgreen@bloomberg.net


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