Atlante urged by ECB to speed up Veneto Banca/BPV merger – report (translated)
Atlante, the Italian bank rescue fund, has been urged by the European Central Bank (ECB) to speed up the merger of Veneto Banca and Banca Popolare di Vicenza (BPV), Italian language daily Il Messaggero reported. The unsourced report said that the request was made at a meeting in Frankfurt on 18 October to Alessandro Penati, the chairman of Quaestio, the company that manages Atlante.
The request could be discussed on 28 October by the management of Veneto Banca and BPV, the report said.
The report noted that Atlante controls over 90% of both Italian lenders.