Decision time is near for BCI, Banca di Roma
Article Abstract:
Banca di Roma and Milan, Italy-based Banca Commerciale Italiana (BCI) are expected to end negotiations over a proposed merger that would create the largest bank in Italy. However, analysts say that the biggest problem in the merger talks is Banca di Roma's portfolio of 10.6 trillion lire of bad loans. Meanwhile, Banca di Roma has strong branch network in central and southern Italy that is attractive to BCI, which has branches in northern Italy. A merger between the two companies would bring the combined total branches to 2,7000, and it would also create a bank with about 411 trillion lire in assets.
Comment:
Its negotiations w/ Banca di Roma on a possible merger, that would create Italy's largest bank, are expected to end
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Banca di Roma is being pursued for merger by BCI
Article Abstract:
Banca Commerciale Italiana (BCI) has assured that it prefers the acquisition of Banca di Roma, instead of a merger with the San Paolo-IMI group. The consolidation of BCI and Banca di Roma would result in a company with accumulated assets of around 200 trillion lire and both companies agree that the merger would be beneficial to the two banks. San Paolo-IMI has about 340 trillion in assets and BCI's merger with the bank could give the impression of San Paolo-IMI buying BCI, instead of the other way around. BCI and Banca di Roma could effect an initial merger proposal by the end of November 1998.
Comment:
Assures that it prefers acquisition of Banca di Roma, instead of merger with the San Paolo-IMI group
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Italy blocks bids on BNL stake, wary of foreign banks' influence
Article Abstract:
Istituto Nazionale delle Assicurazioni SpA's bid for a stake in Banca Nazionale del Lavaro of Italy has been blocked by the Italy government due to concerns about the incursion of foreign investors. Istituto Nazionale is negotiating for the stake in Banca Nazionale together with two foreign institutions. However, a government official denied that the bids were blocked because of the foreign investors. The government official claimed that the bids were not approved because they were not adequate in the view of the Treasury and the Bank of Italy.
Comment:
Saw its bid to acquire a stake in Banca Nazionale del Lavaro blocked by Italian govt
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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