Japan's Nomura slashes exposure to Italy by 83 pct

lunedì 28 novembre 2011 13:37

TOKYO Nov 28 (Reuters) - Nomura Holdings, Japan's largest investment bank, said it cut its exposure to Italian government bonds and other securities to $467 milllion from $2.82 billion in less than two months as part of a scaling back of its business in Europe.

The move is part of a broader reduction in exposure to Europe, where most of its holdings were in Italian debt.

Nomura said in a statement that it lowered its total exposure to Greece, Ireland, Italy, Portugal and Spain to $884 million as of Nov. 24 from $3.55 billion as of the end of Sept 30. (Reporting by Nathan Layne. Editing by Jane Merriman)