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BPM, Unipol in preliminary tie-up talks - report


Published : Wed, 29 Aug 2007 08:05
By : Agencies
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MILAN (Thomson Financial) - Banca Popolare di Milano and Unipol SpA have entered preliminary talks to merge their banking and insurance businesses, the daily MF reported, citing sources close to the deal.

So far, BPM's management has only held talks with Unipol's adviser Credit Suisse and no direct negotiations have yet started, it said.

MF added that BPM's executive committee is expected to meet on Sept 4 to discuss the matter.

Last week, Unipol's chairman Pierluigi Stefanini said that the group is not in merger talks with BPM.

philip.webster@thomson.com

pw/cm2

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