Banco Popolare CEO sees draft of M&A banking deals in Italy
Pierfrancesco Saviotti, chief executive of listed Italian bank BPI, has seen a new draft of M&A deals in Italy, reported Il Sole 24 Ore. He was quoted as saying that after the European Central Bank closes all the tests that it is conducting on Italian banks (asset quality review and stress tests), there will be more M&A deals in Italy. He said BPI will have an active role in this M&A process. Earlier, this week, BPI had decided to put on hold the sale of Release, its non-performing loans vehicle. Saviotti was quoted as saying that BPI is not in a hurry to sell and that it will separately sell some non performing loans, for which negotiations are ongoing.
Source Il Sole 24 Ore