STOCKS NEWS EUROPE-Popolare falls on Italease buyout

Italy's Banco Popolare (BAPO.MI) falls after it fails to reach the 90 percent of shares in affiliate Banca Italease (BIL.MI) needed to delist it after a buyout offer.

Popolare is down 3.03 percent at 5.285 euros, the worst-performing stock in the FTSE MIB Index . Italease is up 1.7 percent, while the DJ Stoxx banks index .SX7P is off 0.77 percent.

Popolare said late on Wednesday that it had a total of 84.4 percent of Italease following its 1.5 euro a share buyout offer. The offer document provides for reopening it for five market days following the payment date, or from July 9 to 15.

"You can't exclude betting on an increase in the buyout price" for Italease, an analyst says.

Reuters Messaging rm://andrea.mandala.reuters.com@reuters.net