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Italy winds up 2 regional banks; deal could cost up to 17b euros

Rome

ITALY began winding up two stricken Veneto-based banks on Sunday in a deal that will see their good assets transferred to Intesa Sanpaolo and could cost the state up to 17 billion euros ($26.4 billion).

The government will pay 5.2 billion euros to Intesa, Italy's top retail...

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