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Carige shareholder to call for board's removal

A major Banca Carige SpA shareholder intends to increase his stake and call for the current board to be replaced after the bank denied him a seat, Reuters reported March 8, citing "two sources familiar with the matter."

Italian financier Raffaele Mincione will write to the bank to complain that its board no longer reflects its shareholder base, and will call for a general meeting to appoint a new board, the sources said.