BMPS-Unipol merger viewed favourably by Italy's largest ruling party |
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Tue, 26 Jun 2007 08:28
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MILAN (Thomson Financial) - A merger between Banca Monte dei Paschi di Siena SpA and insurer Unipol would be viewed positively by the Democrats of the Left, the largest party in Italy's ruling coalition, said senator Nicola Latorre in an interview with the MF daily.'We would view with favour a possible merger between BMPS and Unipol. This bancassurance group would be very interesting from an industrial point of view,' Latorre was quoted as saying by the newspaper.Latorre is the right-hand man in financial issues of Massimo D'Alema, Italy's foreign minister and president of the Democrats of the Left.BMPS' main shareholder, the MPS banking foundation, however, would not view as positive the idea of diluting its stake in a merger with Unipol, MF said.danilo.masoni@thomson.comdm/jlcCOPYRIGHTCopyright 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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BMPS main shareholder says it is against idea of domestic merger of equals 