Veneto next to call on Atlante

摘要

Italy's hastily assembled rescue fund, Atlante, will almost certainly be needed to buy unwanted shares in veneto banca's €lbn IPO despite defiant noises coming from the bank's management. Yet that move will leave the fund nearly exhausted and therefore unable to buy a significant portion of the €360bn of non-performing loans currently crippling Italy's banking industry. Atlante was funded by contributions from a group of Italian financial institutions.