Veneto Banca shareholders take up just 2.2 pct of 1 bln euro cash call

June 23, 2016 3:10 PM

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MILAN, June 23 Italy's Veneto Banca said on Thursday shareholders had taken up only 2.22 percent of its 1 billion euro ($1.1 billion) initial share offering, paving the way for the regional bank to be taken over by rescue fund Atlante.

The offer reserved to the bank's 88,000 existing shareholders ended on Wednesday. Institutional buyers have until 1100 GMT on Friday to subscribe to the offer, but a source close to the deal said on Wednesday they were not expected to show much interest.

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