October 18, 2016 / 10:11 AM / a year ago

Poste in talks over 2 bln euro bank financing for Pioneer bid- source

ROME, Oct 18 (Reuters) - Italy’s Poste Italiane is in talks with a group of banks to raise up to 2 billion euros ($2.2 billion) in financing to support a possible acquisition of UniCredit’s asset management arm, a source close to the matter said on Tuesday.

Italy’s post office last month submitted a preliminary offer for UniCredit’s Pioneer Investments together with state lender Cassa Depositi e Prestiti (CDP) and asset manager Anima Holding . UniCredit is selling assets to shore up its capital.

The Poste-led consortium is competing against French asset manager Amundi, Australia’s Macquarie and British group Aberdeen Asset Management, sources have said. Amundi is said to be leading the race with a higher-than-expected 4 billion euro offer.

$1 = 0.8928 euros Reporting by Alberto Sisto; writing by Francesca Landini; editing by Stefano Bernabei and Valentina Za

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