Italease may merge with Mediobanca unit Selma - report |
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Tue, 10 Jul 2007 08:47
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MILAN (Thomson Financial) - Banca Italease SpA is studying the possibility of merging with Mediobanca SpA's leasing unit Selma to overcome financial problems linked to an exposure to derivative contracts, the daily Il Corriere della Sera said, citing a banker close to the talks.An alternative way of solving Italease's woes could be a recapitalisation, which Mediobanca and Goldman Sachs are ready to underwrite, it added.Newspaper MF added that Italease's exposure could be higher than the 730 mln eur declared, but is not expected to be more than 1 bln eur.The daily also cited Divo Gronchi, chairman of the management board of Banco Popolare, which owns about 30 pct of Italease, as saying that Italease is carrying out an appraisal. When it is over, a decision will be made on whether a capital increase is needed, he added.philip.webster@thomson.compw/cm2COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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