Go-Ahead for Banco Popolare-BPM Merger

Boards approve merger to create Italy’s third-largest banking group, with 2,500 branches. Verona’s Banco Popolare issue capital increase of €1bn. Mediobanca pressed for agreement. Nouy (ECB supervisory body) talks of possible further mergers. Carlo Fratta Pasini (Banco Popolare) set to be Chairman, Giuseppe Castagna (BPM) CEO, and Pier Francesco Saviotti head of Executive Committee

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