Intesa Sanpaolo May Be Involved in Veneto Banca Judicial Case

By FeaturesDow Jones Newswires

Intesa Sanpaolo SpA (ISP.MI) may be involved in a judicial case that has been brought against Veneto Banca, a regional bank it acquired last year, its said on Friday.

The Italian lender said in an emailed statement that it was dismayed by the possible involvement in the proceedings, adding that it has bought only some assets of Veneto Banca and another regional lender.

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Last year, Intesa took part in the rescue of the two banks which had gone bust. The Italian government liquidated the regional banks' bad assets, while Intesa Sanpaolo bought the good ones for one euro.

"Intesa Sanpaolo will defend itself and will exercise all legal and contractual rights," the bank said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

January 29, 2018 02:02 ET (07:02 GMT)

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