07/10/2016 (Agence Europe) – On Friday 7 October, the European Commission announced that it had extended the sales process for four small Italian bridge banks, Nuova Banca Marche, Nuova Banca Etruria, Nuova Carife and Nuova Carichieti. The sales process aims to maximise the value of the four bridge banks, thereby minimising the cost to the taxpayer and ensuring that no new state aid would be necessary. To protect the effectiveness of the sales process, the timelines have been kept confidential, the Commission explained. The four banks were set up in November 2015 when the Bank of Italy put Banca delle Marche, Banca Popomare dell’Etruria e del Lazio, Cassa di Risparmio di Ferrara and Cassa di Risparmio della Provincia di Chieti into resolution. (EL)