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Italy banking rescue fund set to take over Popolare Vicenza

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IN DIRE STATE: Popolare Vicenza has recorded more than 700 million euros in outflows this year as clients withdrew deposits.

Milan

ITALY'S government-orchestrated banking rescue fund will buy most of the shares in Banca Popolare di Vicenza SpA's 1.5 billion-euro (S$2.3 billion) capital increase through an initial public offering after institutional investors showed little interest.

Investors offered to