POP MILANO / BMPS Reuters reports that the CEO of Pop Milano Mr Castagna has ruled out a three way merger involving BMPS.
POP MILANO / BCO POPOLARE MF reports that the banks are continuing discussions concerning an eventual exchange ratio and that a merger would be framed as a merger of equals. Idea is to have a board of 19 members (9 nominated by Bco Pop and 7 by Pop Milano with 3 independents).
BCA POP EMILIA ROMAGNIA Il Messagero reports that BPER could have made an offer to buy assets of the small local banks currently under administration.
BAD BANK Il Sole reports that the main issue (to be discussed at the meeting today between the Italian Economy minister and European Competition commissioner) is the provision of guarantees and that a hypothesis that could be discussed is the conferral of NPL’s to a SPV that in turn would issue a category of bonds.