MILAN Jan 24 Pop Milano's top
investor Andrea Bonomi, who spearheaded a plan to turn the
cooperative bank into a joint-stock company, has sold his entire
stake, a source close to the matter said.
The move casts doubts on the bank's ability to reform its
"Since the latest developments led to a situation in which
Bonomi no longer had an effective role, it would have made
little sense to stay in Pop Milano," the source said, adding the
top investor had sold his 8.6 percent stake on the market.
"Bonomi's plan was aimed at turning the bank into a
joint-stock company," the source added.
Bonomi, a private equity investor, wanted to change the
ownership structure of the lender but his plan was shelved at
the end of last year because of strong opposition by trade
(Reporting by Elisabetta Jucca, writing by Francesca Landini)