Finance Minister, DAN, Laurie discussed on Bloomberg Daybreak: Europe


And it's a recordbreaking rescue friendly the country will commit as much as seventeen billion euros to clean up to failed banks in the nation's biggest rescue ever now the state intervention of to vonetta banks also include support for and taste says and sanpaolo to acquire the lenders good assets now we heard from the italian finance minister yesterday after an emergency cabinet meeting and he said in taser can initially tap about five point two billion euros to take on some assets without hurting capital ratio so again we're were watching though shares this morning very closely we on a lot of investors will be scratching their heads about what kind of a playing fails we have here in europe but given that the same rules wound apply to greet banks different rules for spanish banks visa tally banks of being able to do with local regulation notes the overarching european he and regulation so that's a really fascinating soy we can discuss more also ness lay as very interesting corporate news today yes exactly it is also up this morning almost four percent right now an activist investor dan loves hedge fund third point is targeting now say third point is calling for it to sell its twenty seven billion dollar stake in lorry out in an investor letter the funds that it intends to encourage managent management to quote pursue change with a greater sense of urgency by selling its stake and laurie out increasing leverage for share buybacks and reviewing its portfolio now third point has built a stake of more than three point five billion dollars and nestle a representative for the company was unable to immediately comment and again we are watching those shares up three point.

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