Hedge Fund News From HedgeCo.Net


Hedge Funds Bet on Big Turnaround by Italy’s Mid-Tier Banks

(Reuters) Major hedge funds have picked Italian mid-tier banks as one of Europe’s few remaining recovery plays, betting they will shed billions of euros in bad loans. Europe’s 2010-2012 debt crisis left Italy’s banks with among the euro zone’s biggest hangovers, some 285 billion euros ($338 billion) of soured debt on their balance sheets. But when Credito Valtellinese sold new shares in a February rights issue for eight times its market value, they were lapped up by hedge funds in the United States and Britain.

To read this article:

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply