March 29, 2019 / 11:42 AM / in 25 days

Creval investor Algebris does not expect merger before 2-3 years

MILAN, March 29 (Reuters) - Italian mid-sized bank and merger candidate Creval is not expected to be involved in a deal for another two to three years, the head of Creval’s 5.3 percent shareholder Algebris said.

Davide Serra, founder of London-based investment firm Algebris, said he was certain that banking consolidation would take place in Europe but added that Creval’s board would decide when and how to join in.

“It is always better to put the house in order before getting married”, Serra told reporters. (Reporting by Gianluca Semeraro, writing by Andrea Mandala, editing by Valentina Za)

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