April 14, 2014 / 7:17 AM / 4 years ago

Banca Etruria shares down after it agrees exclusive merger talks

MILAN, April 14 (Reuters) - Shares in Banca Etruria fell in early trade on Monday after the Tuscan bank agreed at the weekend to enter exclusive merger talks until May 30 with rival Banca Popolare di Vicenza.

By 0708 GMT shares in Banca Etruria fell 3.7 percent against a 0.4 percent rise in Italy’s banking index.

Banca Etruria’s shares had risen in recent weeks on expectations the lender could attract rival bids. The bank had been looking for a merger with a stronger peer following advice from the Bank of Italy.

Reporting by Valentina Za, editing by Silvia Aloisi

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