BPM makes offer for some Intesa Sanpaolo branches, confirms business plan tgts |
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Published
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Tue, 24 Jul 2007 20:33
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MILAN (Thomson Financial) - Banca Popolare di Milano said it has confirmed its 2007-2009 business plan targets and presented a binding offer for some of the 198 bank branches Intesa Sanpaolo SpA has to sell.BPM said its board has confirmed the 2007-2009 business plan, which had been drawn up on a stand alone basis.It said the decision to pursue the plan's targets by internal growth did not exclude possible external growth should opportunities arise. A planned merger between BPM and BPER recently fell through.BPM also said it has presented a binding offer for the Intesa Sanpaolo branches in Lombardy and Piedmont.The auction of 198 branches is one of the conditions imposed by the antitrust authorities for clearance of the Intesa Sanpaolo merger, which officially went through at the beginning of this year.stephen.jewkes@thomson.comsj/am/sj/amCOPYRIGHTCopyright 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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Intesa Sanpaolo transfers 173 bank branches to Credit Agricole unit Cariparma 