Banco Popolare CEO says BPM preferred merger candidate
Pier Francesco Saviotti, the CEO of listed Italian cooperative bank Banco Popolare, has said that his preferred candidate for a merger is listed Italian cooperative bank BPM. In a long interview with Italian language daily Il Sole 24 Ore, Saviotti said that there was nothing concrete on the table but that Banco Popolare was talking to “everybody”, as BPM was not the only option available.
Saviotti refused to be drawn when asked if listed Italian cooperative bank UBI Banca and unlisted Italian cooperative lender Veneto Banca were possible merger candidates.
Saviotti told Il Sole that the appointment of a financial advisor on the matter would show that Banco Popolare had found a “serious opportunity” and that matters could proceed further.
BPM has a market cap of EUR 4.13bn
Sourced from print copy: pge 28
Il Sole 24 Ore