UniCredit: Sale of Bank Austria?

Businessn.a. ♦ Published: October 8, 2011; 20:59 ♦ (Vindobona)

According to market rumors, the Italian bank considers to sell its Austrian subsidiary in order to strengthen its own position. Bank Austria´s CEO Cernko denies fiercely.

UniCredit: Sale of Bank Austria? / Picture: © UniCredit Banca

The Austrian newspaper “Kurier” reports from a possible sale of Bank Austria by its holding company UniCredit. The second biggest Italian bank currently faces serious troubles: Italy has been downgraded by the international rating agencies, the bank itself was also confronted with a substantial downgrade. Even Bank Austria´s rating went from A1 to A2 – with a negative…