Pop Milano shares up on report of contacts with other lenders
MILAN Aug 26 (Reuters) - Shares in Italian mid-tier lender Banca Popolare di Milano rose in early trade on Monday after a press report said the bank had had preliminary contact with other lenders about possible consolidation in the sector.
In an unsourced report on Sunday, Il Sole 24 Ore said there had been informal discussions involving Popolare Milano, Banco Popolare, UBI Banca and Banca Popolare dell'Emilia Romagna.
It said Popolare Milano was assessing "every possible option", including the possibility of an alliance or a merger with another cooperative lender.
Shares in Popolare Milano were up 0.6 percent at 0.40 euros ($0.54) by 0710 GMT after earlier rising around 2 percent.
($1 = 0.7461 euros) (Reporting by Silvia Aloisi, editing by Isla Binnie)