August 1, 2018 / 9:17 AM / 10 months ago

Italy's council of state keeps freeze on 'popolari' bank reform

ROME, Aug 1 (Reuters) - Italy’s highest administrative court confirmed on Tuesday a freeze on a reform of large mutual banks, legal sources said, in a move that delays changes at Banca Popolare di Sondrio and Popolare di Bari.

The two ‘popolari’ banks are the only ones left, among the 10 targeted by the reform, that are yet to comply with demands they shed their mutual status and turn into regular joint-stock companies. (Reporting by Domenico Lusi, writing by Valentina Za,)

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