• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-Popolare falls on Italease buyout

Thu Jul 2, 2009 7:13am EDT

Stocks

   

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


More from Reuters

Photo

Jobless claims up, labor market still healing

WASHINGTON (Reuters) - The number of workers filing new applications for jobless insurance unexpectedly rose last week, according to government data on Thursday that still suggested the labor market was improving.

» More Top News
A girl sits on her father's shoulders in front of a globe with an interactive display during an Earth Hour ceremony at the townhall square in central Copenhagen December 16, 2009. Credit: REUTERS/Christian Charisius

U.N. talks at "critical juncture"

Climate talks were given a second chance after the U.S. backed a $100 billion global fund to support poor countries. What else will it take to hammer out a deal?  Full Article 

Climate Conference
An office worker is reflected in the pavement as he walks with an umbrella in Singapore's financial district October 8, 2008.REUTERS/Vivek Prakash
Analysis:

Death of a salesman

Old-style sales reps may be fading thanks to a shift in the pharmaceutical market that has created a new gatekeeper in drug sales.  Full Article 

Healthcare