Deals
This Italian Bank Lost 83% Market Value in 2018
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Banca Carige SpA plunged in Milan trading after the struggling bank’s biggest investor blocked a planned stock sale at a Dec. 22 shareholders meeting, throwing a vital restructuring into doubt.
The stock fell as much as 19 percent, giving the Genoa-based lender a market value of about 79 million euros ($90 million). The bank has lost 83 percent of its market value this year and now trades at a fraction of a cent as shareholders feud over how to revive its fortunes.